Create a South Dakota Non-Disclosure Agreement with our customizable template!
A South Dakota non-disclosure agreement is also known as a confidentiality agreement. The South Dakota non-disclosure agreement can be included in an employment contract or it can be used on its own.
When an employee or a contractor signs a South Dakota non-disclosure agreement, they are entering into a legal contract to not reveal business or trade secrets, such as intellectual property. If you plan to write your own NDA or if one is presented to you to sign, you should seek legal advice from a lawyer admitted to practice in the State of South Dakota.
South Dakota’s Uniform Trade Secrets Act, SD Codified L §§ 37-29-1 through 37-29-11 , regulates the creation and use of NDAs to protect trade secrets. The South Dakota Uniform Trade Secrets Act explains how businesses can protect their trade secrets . It also explains how trade secrets law works together with other laws within the state.
To get the most protection for business secrets, use this contract along with a South Dakota non-compete agreement .
South Dakota non-disclosure agreements play an important role in the business environment by protecting information known within the NDA as “trade secrets.” South Dakota’s Uniform Trade Secrets Act provides a legal definition of what sort of information may be protected as a “trade secret.” A trade secret is defined as information such as a formula, pattern, compilation, program, device, method, technique, or process with its own potential or actual independent monetary value.
This information gains its value because it is not information known by the public or that another business could somehow figure out during their own business practices to use for their own gain. If a business wishes to have information protected as a trade secret, it must take reasonable steps to keep that information private.
To write a basic South Dakota non-disclosure agreement, you first need to read the South Dakota Uniform Trade Secrets Act so that you better understand what the NDA can protect. Keep in mind that this isn't a substitute for legal advice. To help ensure enforceability, you should set an appointment with a law firm that practices employment law. You can save your template in Microsoft Word (.docx) for easy editing.
The Disclosing Party and the Receiving Party should sign and date the agreement. The signatures should be dated. Finally, each party should receive a copy of the NDA for their records after it is executed.
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