A South Carolina non-disclosure agreement is designed to protect confidential business secrets that your employee or contractor may learn while they work for you. It is important to note that South Carolina has a specific law that defines trade secrets. It is important that you consult this law to ensure that your South Carolina non-disclosure agreement is accurate and that your document is legal in its scope.
The South Carolina Trade Secret Act, SC Code §§ 39-8-10 through 39-8-130, provides the guidelines that businesses should know when it comes to non-disclosure agreements.
The South Carolina Trade Secret Act also provides the legal definition of “trade secrets” as information that includes, but is not limited to, a formula, pattern, compilation, program, device, method, technique, product, system, process, design, prototype, procedure, or code with its own actual or potential monetary value. This value occurs because the information isn’t something that is generally known by the public. It’s also not something that is so basic to the industry that another business could figure it out and use it during its normal course of business. In short, it is information that is completely unique to the business. Any information claimed as a trade secret in a South Carolina non-disclosure agreement must be reasonably protected by the company as such.
The South Carolina Trade Secret Act also explains what actions a business may take for threatened or actual violations of the NDA as well as how long the company has to bring forth a legal action. The law also defines what is required to bring a criminal action against the party violating the agreement.
To help your business retain its competitive edge, use this document with a South Carolina noncompete agreement.