An Indiana non-disclosure agreement (NDA) is a legal document that binds an employee or other entity from wrongfully sharing a company’s private information. The form can be used as either a bilateral or unilateral agreement, meaning it can be used in situations where just one (1) party is sharing information (unilateral) as well as in situations with both parties sharing information to each other (bilateral). The form is commonly used in situations such as:
If a party discloses secrets with any unauthorized people, the NDA grants the disclosing party the legal right to fight in court for compensation for any damages caused by the leak.
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique, or process, that:
(1) derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and
(2) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.[1]