New Mexico Non-Disclosure Agreement (NDA)
The New Mexico Non-Disclosure Agreement (“Confidentiality Agreement”) is a legal contract that is used for keeping Trade Secrets, which are a company’s privileged and confidential secrets, private from third (3rd) parties. The form lists the terms and conditions of the agreement, which include the specifics of what information is classified, how the recipients can use it, and optional conditions such as jurisdiction and injunction (having the court order an action to stop). Continue reading below to see a breakdown of New Mexico’s law regarding trade secrets as well as a guide for completing the NDA.
Trade Secret Law
New Mexico’s law regarding trade secrets, titled the “Uniform Trade Secrets Act,” covers how those that suffered from having their company confidential information stolen can claim damages, and have the entity(s) using their information be stopped by the court. The following are the sections of the act (Chapter 57 § 3A):
- § 57-3A-1 – The title of the Act
- § 57-3A-2 – Gives the definitions of four (4) commonly used terms
- § 57-3A-3 – This section covers injunctive relief, which is when a court orders a certain action be stopped, such as a competitor wrongfully using your trade secret for their own gain
- § 57-3A-4 – When the complainant can recover compensation from damages caused by misappropriation
- § 57-3A-5 – Situations in which the court will pay for the prevailing party’s attorney’s fees
- § 57-3A-6 – Steps that the court will take to the protect trade secret(s) involved with litigation
- § 57-3A-7 – The statute of limitations, or how long the complainant has to bring a case (after discovering the misappropriation)
How to Write
Step 1 – Begin by downloading the New Mexico NDA in either Adobe PDF or Microsoft Word. Have the parties go over the contract, making any adjustments as necessary. A common addition to NDA’s is a jurisdiction provision, which requires any dispute to be carried out in the city listed on the contract.
Step 2 – Once the parties agree on the terms and conditions of the contract, begin by entering the Current Date followed by the Names and Addresses of the parties to be bound by the agreement. On the document, the “Disclosing Party” is the entity sharing the Trade Secrets, whereas the “Receiving Party” is the individual or group learning of the confidential information.
Step 3 – To complete the contract and put it into full effect, have both parties go to the bottom of the last page and enter their full Printed Names, Titles, Dates (they are signing the document), and their Signatures.