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A Wisconsin non-disclosure agreement (NDA), also known as a confidentiality agreement, is a legal document that is used to protect business and trade secrets. A Wisconsin non-disclosure agreement uses restrictive covenants to protect trade secrets, such as intellectual property.
The NDA may be its own legal contract or it may be part of an employment contract. Before drafting an NDA or signing one presented to you, seek legal advice from a law firm that practices business law. As a business, this will help you ensure the NDA's enforceability if it becomes necessary to take a former employee to court.
Wisconsin adopted the Uniform Trade Secrets Act, Wis. Stat. Ann. §§ 134.90 through 134.90(7) , applies to the formation and use of non-disclosure agreements. To create a legally enforceable non-disclosure agreement, it is important to include reasonable geographical and time limits. The use of unreasonable restraints could mean that the NDA is subject to being thrown out by the court.
Trade secrets help make businesses competitive. To give this information the most protection possible, use an NDA along with a Wisconsin non-competition agreement .
Wis. Stat. Ann. §§ 134.90(1)(c) through 134.90(1)(c)2 , defines the term “trade secret.” A trade secret in Wisconsin is information such as a formula, pattern, compilation, program, device, method, technique, or process that has its own actual or financial value.
A trade secret’s value comes from the fact that other people or businesses do not have this information. Any business claiming information as a trade secret in a Wisconsin non-disclosure agreement must take reasonable efforts to keep the information secret.
To write a Wisconsin non-disclosure agreement, first read the Wisconsin Uniform Trade Secrets Act so that you better understand the type of information that is protected as a trade secret. Keep in mind, however, that this is no substitute for legal advice. An attorney can determine the enforceability of your NDA. You can save your template in Microsoft Word (.docx) for easy editing.
The parties should sign and print their names. Their signatures should be dated. Finally, the parties should each receive a copy of the finalized NDA for their records.
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