New Hampshire Non-Disclosure Agreement
The New Hampshire Non-Disclosure Agreement (NDA) Template gives companies and individuals a means of protecting secretive information they own from reaching the hands of third parties. Without an NDA, sharing confidential information would be riskier, lessening the likelihood of businesses working together and making many situations more difficult. It’s important to understand that regardless of whether a contract was signed, stealing trade secrets is illegal. However, with an NDA, it 1) increases the likelihood of the party disclosing information to win in court, and 2) it dissuades the sharing of information from occurring in the first place.
NDA contracts generally come in two (2) formats: bilateral (mutual) and unilateral (one-way). Unilateral agreements are for when a single person or company is sharing information. They are more commonly used than the mutual types, which include conditions to allow both parties to share information with each other.
Trade Secret Law
New Hampshire’s Trade Secret Law (Chapter 350-B) covers how the state protects the use of confidential information. Although New Hampshire’s Trade Secret Law is in line with the general national act, there are fundamental distinctions between the two sets of laws.
One such difference is that the state’s “Reason to Know” standard means a company can be summoned for misappropriation (stealing secrets) even if they should have known the information they were using was confidential. The NH act is made up of a total of nine (9) sections, which have been highlighted below:
- § 350-B:1 Definitions: Provides explanations of four (4) terms used in the chapter.
- § 350-B:2 Injunctive Relief: Details when the court can issue an injunction, which is an order forcing an individual or company to stop a certain action (in this situation, misappropriation).
- § 350-B:3 Damages: Goes over when the complainant can recover damages from misappropriation.
- § 350-B:4 Attorneys’ Fees: Lists the situations in which the court will pay for the winning party’s attorney’s fees.
- § 350-B:5 Preservation of Secrecy: Notes what the court will do to protect a complainant’s trade secret(s), including ordering those involved in litigation not to disclose information.
- § 350-B:6 Statute of Limitations: Once misappropriation has been discovered, this provision establishes that the victim has three (3) years to bring a case against the perpetrator.
- § 350-B:7 Effect on Other Law: An explanation of how the Trade Secret Law affects other state laws.
- § 350-B:8 Uniformity of Application and Construction: A brief statement regarding New Hampshire’s efforts to make their Trade Secret Law in line with other states’ renditions of the Act.
- § 350-B:9 Short Title: The citable title of the chapter, which is the “Uniform Trade Secrets Act.”