Create a Kentucky Non-Disclosure Agreement with our customizable template!
A Kentucky non-disclosure agreement (NDA), also known as a confidentiality agreement, is used to protect confidential information from being given to the public, competitors, or other businesses by your employees or contractors. Kentucky non-disclosure agreements must be drafted to protect actual legitimate business interests, such as trade secrets and intellectual property, to be enforceable.
Because it is often used in the scope of employment relationships, it is important to seek out legal advice from a qualified law firm to determine whether the document offers sufficient consideration and is truly a binding contract.
Kentucky non-disclosure agreements are governed by Kentucky’s Trade Secrets Act, KY Rev Stat §§ 365.880 through 365.993 .
The Kentucky Trade Secrets Act also explains the damages that a business may be entitled to receive as a matter of law if an employee or contractor violates the agreement as well as provides other valuable information related to NDAs and trade secrets.
In addition to a non-disclosure agreement, businesses may also find it beneficial to use a Kentucky non-compete agreement to improve their ability to protect critical business information.
Trade secrets are considered a legitimate business interest. As such, they are often the subject of Kentucky non-disclosure agreements.
Kentucky’s Trade Secrets Act defines what is considered a “trade secret.” A trade secret is information such as a formula, pattern, compilation, program, data, device, method, technique, or process that isn’t public knowledge. It also may not be something that another business could easily come up with.
A trade secret must have potential or actual monetary value. Businesses claiming that the NDA protects at least one trade secret must take reasonable actions to keep that information secret.
Before you begin drafting your Kentucky non-disclosure agreement, take some time to first read over the state's trade secret law. However, keep in mind that this is no substitute for getting legal advice from a qualified lawyer. A lawyer can help ensure that your NDA's enforceability is valid since they have specialized training in employment law. An NDA template in Microsoft Word (.docx) for easy editing.
At the end of the NDA, include a signature line and space for each party to print their name and list their title from the agreement (Disclosing Party or Receiving Party). Then, include a space for the date. Each party to the agreement should receive a copy of the finalized agreement.
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