Create a Tennessee Non-Disclosure Agreement with our customizable template!
A Tennessee non-disclosure agreement (NDA), also referred to as a confidentiality agreement, is used to prevent independent contractors or employees from giving out business or trade secrets to the public or to competitors to help protect the economic advantage of your business.
A Tennessee non-disclosure agreement may be a legally binding contract. If someone signs and then violates the agreement, a court may impose penalties for doing so. An NDA may be a stand-alone contract or it may be part of an employment contract.
Before writing your own NDA or signing one presented to you, you should seek legal advice from a law firm.
Tennessee adopted the Uniform Trade Secrets Act, Tenn. Code. Ann. §§ 47-25-1701 through 47-25-1709 , to govern non-disclosure agreements and to define what sort of information is considered to be a “trade secret.” The law also explains how a business may preserve the secrecy of the information they wish to protect.
To provide the best possible protection of business secrets, businesses should use this document along with a Tennessee non-competition agreement .
A Tennessee non-disclosure agreement is a contract that is meant to protect the trade secrets of a business. Tennessee’s Uniform Trade Secrets Act defines a “trade secret” as information that doesn’t have a definite form. It can include, but also is not specifically limited to, data of a technical, non-technical, or financial nature; a formula; a pattern; a compilation; a program; a device; a method; a technique; a process; or a plan that has its own economic value.
Its value may be actual or potential. The reason why the information is valuable is that it gives the business a competitive edge since it’s not something that the public knows or something so easy to determine that another business could somehow figure out on their own during their normal business practices. Any information that a business seeks to protect through a Tennessee non-disclosure agreement must have its privacy protected using reasonable means.
To write a basic Tennessee non-disclosure agreement, first read the Tennessee Uniform Trade Secrets Act. This will help you better understand the type of information that you can protect using an NDA. However, this is not a substitute for obtaining legal advice. Talking with an attorney can help ensure that your agreement is enforceable if the Tennessee courts must step in because of a dispute. You can save your template in Microsoft Word (.docx) for easy editing.
The Disclosing and Receiving Party should sign their agreement and print their name. They should also date their signatures. Each party should receive a copy of the finalized agreement for their records.
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