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A Maryland non-disclosure agreement (NDA), also known as a confidentiality agreement, is designed to create a confidential relationship that stops employees and independent contractors from exposing your company secrets to competitors or the public. A Maryland non-disclosure agreement should be specifically worded to ensure enforceability. Before drafting an NDA or signing one presented to you, you should seek legal advice from a qualified law firm.
Maryland has the Maryland Uniform Trade Secrets Act, Md. Code, Com. Law §§ 11-1201 through 11-1209 . The purpose of this Act is to provide specific regulations for non-disclosure agreements and trade secrets.
In addition to defining what a business may consider a trade secret, the Maryland Uniform Trade Secrets Act also provides limitations and explains the right to damages that a business may be entitled to if the NDA is violated.
For additional protection, use the NDA in combination with a Maryland non-compete agreement .
In section 11-1201 of the Maryland Uniform Trade Secrets Act, “trade secret” is defined as information such as a formula, pattern, compilation, program, device, method, technique, or process that has actual or potential monetary value because the general public doesn’t have the information and it’s not something that is easily discovered by another business for use. In short, it is information that gives the business a competitive edge.
To write a basic Maryland non-disclosure agreement, first review the Maryland Uniform Trade Secrets Act. Although this will help you better understand the requirements of protecting your confidential materials, it is still not a substitute for legal advice. You can save your template in Microsoft Word (.docx) for easy editing.
An NDA should include a signature line as well as the printed name for the Disclosing Party and the Receiving Party as well as a space for the date. Each party should receive a copy of the executed document.
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