Create an Illinois Non-Disclosure Agreement with our customizable template!
An Illinois non-disclosure agreement (NDA), also known as a confidentiality agreement, is used to protect the best interests of a business. An Illinois non-disclosure agreement is commonly signed by new employees as a means to protect business secrets, such as intellectual property developed by the business.
An Illinois non-disclosure agreement should be carefully worded to be upheld in court. These agreements cannot be overly broad. NDAs may be contracts that are written separately or they may be part of employment agreements.
Before creating an Illinois non-disclosure agreement or signing one, you should first get legal advice from a qualified law firm that focuses on business law.
In the State of Illinois, non-disclosure agreements are regulated by the Illinois Trade Secrets Act, 765 ILCS 1065 . Under the Illinois Trade Secrets Act, a non-disclosure agreement must set a time limit and a geographical limit that are considered reasonable. The restrictive covenants must also be considered reasonable. Illinois companies interested in using an NDA to protect their business should also use an Illinois non-compete agreement for maximum protection.
The term “trade secrets” is defined by the Illinois Trade Secrets Act as information that includes, but isn’t limited to, data that may be technical or non-technical, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, or a list of potential or actual clients or suppliers.
This information must be kept secret using reasonable methods by the company creating the NDA. The information must also have actual or potential economic value. The information may not be available to the general public or something easily discerned by other industry professionals.
To create a basic Illinois non-disclosure agreement, review the Illinois Trade Secrets Act before you begin the actual writing process. You must understand what the law says because you need your NDA to comply with the law.
However, creating your own is not a substitute for getting competent legal advice. We urge you to seek out a qualified Illinois lawyer to learn more about what you should include in an NDA for your business. Only then can you be sure that your NDA is properly written to protect your trade secrets.
At the end of the document, there should be a signature line for each party as well as space for them to print their name. Their title as it pertains to the contract should also be listed (Disclosing Party and Receiving Party) as well as their professional title. There should also be a space for the date the document was executed. Finally, each person should receive a copy of the finalized contract for their records.
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