Iowa Non-Disclosure Agreement
Download our Iowa Non-Disclosure Agreement (also known as a “Confidentiality Agreement” or “One-way NDA”) to create a binding contract between two (2) parties, restricting one (1) of the parties from sharing the learned Trade Secrets of the other. Commonly used when hiring new employees, pitching an unpatented product, or keeping a recipe or process out of competitors hands, signing an NDA is an easy and safe investment for protecting an individual or company based out of Iowa. Below you will find an overview of Iowa’s law regarding Trade Secrets and a step-by-step process for completing the NDA.
Trade Secret Law
The Uniform Trade Secrets Act was an act published in 1979 with the goal of making each state’s trade laws uniform – for the purpose of helping companies that do business in more than one (1) state. The act was adopted by the majority of states, including Iowa. However, many of the states have added additions and slight alterations to the act. To ensure you have a full understanding of Iowa’s Chapter 550 (Trade Secrets) law, we have created the outline below:
- 550.1 “Short Title” – States that Chapter 550 is known as the “Uniform Trade Secrets Act”
- 550.2 “Definitions” – The definitions of important and frequently used terms
- 550.3 “Injunctive Relief” – Situations in which an injunction will be issued or terminated by the court
- 550.4 “Damages” – What the complainant can receive damage compensation for
- 550.5 “Defense” – What constitutes as a complete defense (for the defendant)
- 550.6 “Attorney Fees” – When the court will award attorney fees
- 550.7 “Preservation of secrecy” – The steps the court will take to ensure a trade secret remains a secret
- 550.8 “Statute of limitations” – The required timeframe for bringing a case of misappropriation
How to Write
Step 2 – At the top of the NDA, enter the current Date. Then, both the Disclosing Party (individual or business sharing the confidential information) and the Receiving Party (entity learning the secrets) will need to enter either their Names (if representing a company, write the company name) and their Addresses.
Step 3 – Have both parties read through the entire contract, correcting or adding conditions as needed. Once both parties agree to the terms and conditions of the contract, have both parties write their Printed Names, Titles (within the companies – if no company, leave blank), and the Dates. Then, the parties will need to Sign the contract – thus officially entering them into the agreement.