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Non-disclosure Agreement Template - Oklahoma
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Oklahoma Non-Disclosure Agreement: What is it?
Consider composing an Oklahoma Non-Disclosure Agreement if you need to safeguard proprietary information your business owns from being disclosed to third parties.
This document must be offered to current and former employees that had access to trade secrets and financial records of the organization, customers that were involved in developing sensitive data, and business partners that were given the authorization to look at or analyze inventions, formulas, and schemes.
An Oklahoma Non-Disclosure Agreement Template can be downloaded through the link below.
Oklahoma NDA: How to Make?
Generally, an Oklahoma NDA includes the following provisions:
- Identification of the parties . Enter the names and contact details of the counterparts - the owner of the sensitive information and its recipient.
- List of the details covered by the contract . In case you are unable to indicate every single diagram, formula, pattern, or strategy in the text of this document, you should record references to other documents as long as they are properly dated. Ensure the details are clearly explained - there is no room for ambiguity in a contract of this type.
- Exclusions from the NDA . For instance, if the information the parties have worked on together has already become public knowledge, it cannot receive protection under the terms of the agreement.
- Duration of the contract . It is reasonable to safeguard sensitive data for several years - only opt for indefinite protection if you believe it is absolutely necessary and these details are personal and will have value even in ten or twenty years.
- Non-compete clause . You are allowed to prevent your ex-employee from being hired by a competitor if they were given access to internal records of the business you need to keep private and you know their employment will mean the disclosure of these details to your rival. Alternatively, you may include a prohibition for your former business partner to hire or solicit your employees within a specified period.
- Remedies available to the non-breaching party . If a violation of the contract terms is discovered and proven in a court of law, the breaching party will have to pay damages. However, consider reaching out to each other first and settling the matter without a trial - maybe, another agreement can be signed and the compensation can be paid without a lawsuit.
- Signatures of the parties are verified by a notary public.
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