Illinois Non-Disclosure Agreement
The Illinois Non-Disclosure Agreement (NDA) is a contract used for preventing employees, business associates, patients, or other individuals or companies from disclosing confidential information to third (3rd) parties. These agreements typically come in two (2) versions:
- Unilateral: Also called a one-way agreement, this type of NDA is used when confidential information will be disclosed by one (1) party and learned by another.
- Bilateral: Otherwise known as a mutual or two-way agreement, this type of NDA is used when both parties will be disclosing secret information to one another. This situation is less common and is mostly used in business environments.
The form offered for download can be used as either one of the two (2) NDA types; the form provides an option for selecting whether the agreement will be unilateral or bilateral.
Illinois Trade Secret Law
Illinois’ law regarding misappropriation (embezzlement), titled “765 ILCS 1065 – Illinois Trade Secrets Act,” consists of nine (9) sections. Cumulatively, the sections cover how the illegal use of trade secrets are handled in the state. Below is a brief description of each section:
- § 1065/1: The title of the Act.
- § 1065/2: Definitions of common terms used throughout the act.
- § 1065/3: Covers when the court can issue an Injunction.
- § 1065/4: Summarizes damages, and when they will be awarded.
- § 1065/5: States when the court will pay for the prevailing party’s Attorney’s Fees.
- § 1065/6: The steps the court will take to ensure trade secrets are kept confidential.
- § 1065/7: Statute of Limitations (5 years after the misappropriation is discovered).
- § 1065/8: How the Act affects other laws and sections.
- § 1065/9: States the act takes place for all misappropriation after Jan. 1st, 1988.