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A Michigan non-disclosure agreement (NDA) is a written agreement more commonly referred to as a confidentiality agreement. The objective of a Michigan non-disclosure agreement is to protect your company's secrets, such as intellectual property, and client information. Before creating an NDA for your business or before signing one presented to you, seek legal advice from a qualified law firm.
Michigan’s Uniform Trade Secrets Act ( Act 448 of 1998 ), governs non-disclosure agreements as well as defines what the state considers a trade secret. Michigan’s Uniform Trade Secrets Act also provides information about the statute of limitations as well as the damages that a business may be entitled to receive because the NDA was violated.
For additional protection, use this document along with a Michigan non-compete agreement .
Company secrets are more generally called trade secrets in NDAs. Michigan’s Uniform Trade Secrets Act defines a “trade secret” as information like a formula, pattern, compilation, program, device, method, technique, or process that has actual or potential monetary value to the business because it’s not something that is known by the general public.
A trade secret cannot be something that another business could easily figure out and use to their benefit. The business must take reasonable efforts as defined by Section 445.1906 to keep that information as secret.
To write a basic Michigan non-disclosure agreement, first review Michigan's Uniform Trade Secrets Act. This will help you better understand the type of information that an NDA can protect.
Reading the law and creating your own NDA is not a substitute for getting qualified legal advice. Seeking out the opinion of a lawyer can help ensure that your NDA protects your trade secrets from misappropriation and that it can stand up in court if going to court becomes necessary.
You can save your NDA template in Microsoft Word (.doc) for easy editing.
The document should include a space for the Disclosing and Receiving Parties to sign as well as to print their names. The signatures should also be dated. Finally, each should receive a copy of the document for their records after it is executed.
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