Idaho Non-Disclosure Agreement
The Idaho Non-Disclosure Agreement (also called a “Confidentiality Agreement”) is a form that protects a company from having their trade secrets (information such as a business plan, formulas, recipes, methods, etc.) shared with those outside of the company – namely competitors. An example of a situation in which an NDA is used is if a company is planning on selling their business, and they need to share their business plan with a potential buyer. Because their business plan contains valuable information, they can use the confidentiality agreement to legally protect their business plan. The parties ensure that both information that can and cannot be shared is outlined, then the parties sign and date the agreement, officially putting it into effect.
Trade Secret Law
Idaho’s trade secret law, Title 48 Chapter 8 “Idaho Trade Secrets Act” covers various topics surrounding misappropriation of trade secrets, and is outlined below:
- § 48-801 “Definitions” – The definitions of 5 commonly used terms (“Improper Means,” “Misappropriation,” “Person,” “Computer program,” and “Trade secret”)
- § 48-802 “Injunctive Relief” – Discusses the situations in which Injunctive Relief will be ordered by the court
- § 48-803 “Damages” – How the court views misappropriation damages and when damages will be rewarded
- § 48-804 “Preservation of Secrecy” – The steps the court will take to ensure a trade secret is kept private within the court system
- § 48-805 “Statute of Limitations” – How long a complainant has to bring up a case of misappropriation
- § 48-806 “Effect on Other Law” – How Chapter 8 affects other Idaho laws
- § 48-807 “Short Title” – How to cite the chapter
How to Write
Step 2 – At the top of the document have both the Disclosing Party (company or individual sharing the confidential information) and the Receiving Party (those that are learning the secrets) enter the following: the Current Date, Full Names (either company or personal names), and their Addresses. Once this has been completed head to the bottom of the page and head to the third step.
Step 3 – Once both parties have read through the contract in its entirety, head to the bottom of the document and have both parties complete the table. They will need to print their Full Names, enter their Titles (within their companies), enter the Current Dates they are signing the document, and their Signatures. Once all the information has been entered, the NDA will be in full effect.