Mississippi Non-Disclosure Agreement (NDA)
The objective of a Mississippi Non-Disclosure Agreement (NDA) is to allow a person or company a means of sharing secret information without fear that the person learning the information will share it with third (3rd) parties. NDAs in which only a single person shares information to another person is known as a “unilateral” contract. In a unilateral agreement, the party sharing the info is known as the “disclosing party,” and the party learning the secrets is known as the “receiving party.” NDA contracts where both parties share information with each other are known as “bilateral” agreements. For bilateral contracts, it is important each party to make clear what shared information is off-limits, and what isn’t to provide that it holds up in a court of law (sections three (3) and four (4) of the template).
In Mississippi, business plans, patient test results (in a medical setting), recipes, or methods that contain confidential information are commonly covered under an NDA. For those without a legal background, it is recommended they consult a legal professional to confirm the form is suitable for their needs.
Trade Secret Law
Mississippi’s Uniform Trade Secrets Act, Title 75 Chapter 26, contains a total of ten (10) sections. Anyone entering into an NDA is urged to read up on the act in order to ensure the document contains the necessary fields to ensure it is legally binding. A brief summary of the act is provided below.
- § 75-26-1 Short title: The title of Chapter 26.
- § 75-26-3 Definitions: Provides definitions of commonly used terms throughout the act.
- § 75-26-5 Injunctive relief: Establishes what is necessary for the court to issue an injunction.
- § 75-26-7 Damages: Provides scope for damages to be rewarded in certain cases of misappropriation.
- § 75-26-9 Attorney’s fees: Outlines three (3) scenarios in which the winning party’s attorney’s fees will be paid for.
- § 75-26-11 Trade Secret Protection: Lists the steps the court will take to prevent trade secrets from being [further] exposed.
- § 75-26-13 Statute of limitations: Places a limitation on long after discovering misappropriation an individual has to bring a case i.e., three (3) years.
- § 75-26-15 Effect on other laws: Makes known what laws the chapter does and does not affect.
- § 75-26-17 Construction of provisions: Essentially states that this Act is an adoption of the general Uniform Trade Secrets Act.
- § 75-26-19 Severability provisions: If a certain provision does not apply/is invalid, it doesn’t affect the other sections.
Statute of Limitations
Mississippi’s UTSA requires all cases be brought within three (3) years of their discovery, or the date they should have been discovered by the defendant.