Tennessee Non-Disclosure Agreement
The Tennessee Non-Disclosure Agreement (NDA) provides business owners and other professionals with a viable legal means of protecting their sensitive trade secrets and confidential information from the public and competitors. The written document legally binds the parties and strictly lists what can and cannot be shared. In the event information is leaked, the party disclosing the information (the “Disclosing Party) can take the other party (the “Receiving Party”) to court to claim damages for the wrongdoing.
Trade Secret Law
To aid both parties in completing and executing a valid NDA, a brief breakdown of all four (4) sections of Tennessee’s Uniform Trade Secrets Act (Title 47 Chapter 25) has been outlined below. The Act sets out how stolen trade secrets are handled in the state via the court system, as well as other information pertinent to the protection of confidential information in the state.
- § 47-25-1701: Gives the title of the chapter, which is the “Uniform Trade Secrets Act”.
- § 47-25-1702: To prevent any possible confusion, this section gives the definitions of “Improper Means,” “Misappropriation,” “Person,” and “Trade secret”.
- § 47-25-1703: Goes over injunctive relief and when the court will issue and terminate an injunction.
- § 47-25-1704: Describes the situations in which damages will be awarded to the victim of misappropriation.
How to Write
Step 2 – After reading through the contract and ensuring all parties agree on the provisions contained within it, begin by entering the Current Date at the top of the first page. Then, have both the party sharing the Trade Secrets (the “Disclosing Party”) and the party learning them (the “Receiving Party”) write their Names and Addresses in the designated fields.
Step 3 – On the final page, each party will need to provide four (4) pieces of information. Namely:
- The parties’ Printed Names,
- Their Titles within their respective businesses,
- Their Signatures, and
- The Date they are filling out the contract.
In the eyes of the law, the contract will be binding once all three (3) steps detailed above have been completed.