Non-disclosure Agreement Template - New York
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New York Non-Disclosure Agreement: What is it?
To prohibit an individual or entity from sharing proprietary information they have learned while working with or for you, you need to draft a New York Non-Disclosure Agreement .
This legal instrument is used in almost all industries allowing companies that own intellectual property, designs, patterns, formulas, schemes, confidential records, inventions, and ideas to prevent people from disclosing these details to all third parties, especially their market rivals.
You can find a customizable New York Non-Disclosure Agreement Template through the link below.
New York NDA: How to Make?
To be deemed legally enforceable, a New York NDA needs to contain the following sections:
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Names of the parties, their contact details, and the purpose of the contract . It is important to indicate whether the duty to keep the proprietary information secret applies to one party or both of them - the NDA in question can be unilateral or mutual.
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Term of the agreement . Some trade secrets or financial data lose value after a few months or years so do not insist upon indefinite protection if it does not make sense in regard to the agreement.
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List of confidential information covered by the contract . Generally, the recipient is not permitted to use the details they have learned for their personal gain or share them with third parties, individuals or entities. It is advised to add the exclusions from the rule - for instance, the receiving party is not under the obligation to keep the information already released to the public private.
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Non-compete clause . In case your employee was granted access to internal records you want to keep private and you believe their future employment with your local rivals is impossible without sharing this information, you may offer them compensation and oblige them to avoid employment with a local entity that works in the same field. There can be a similar obligation for a business partner - prohibit them from hiring your employees for a few years after your professional relationship is over.
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Signatures of the parties, the actual date of signing, and the notary seal . Book an appointment with a notary public and sign the NDA in their presence to show the intention of the parties to sign the deal. Alternatively, you may ask a legal representative to handle the formalization of the agreement for you.
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