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Non-disclosure Agreement Template - Vermont
Vermont Non-Disclosure Agreement: What is it?
If you are aiming to protect confidential information from being deliberately or accidentally disclosed to third parties, you need to prepare and sign a Vermont Non-Disclosure Agreement .
This legally binding document will help you safeguard internal records of the business, inventions you have developed, client lists with their contact information, schemes, patterns, formulas, and designs you want to keep private, especially from your competitors that represent the same industry and are active in the same geographical area.
A Vermont Non-Disclosure Agreement Template can be downloaded below.
Vermont NDA: How to Make?
To be considered valid, a Vermont NDA needs to contain the following sections:
- Identification of the parties . At a minimum, you have to write down the names and physical addresses of the counterparts.
- List of the sensitive details that receive legal protection . You have to be precise and clear when explaining what data is confidential under the terms of the present NDA and confirm the recipient of the information will not be held responsible for disclosing the details they knew before working with you or the data that became public in a different way.
- Duration of the contract . While the disclosing party may want to secure an indefinite agreement, it is not obligatory in most situations - several years are enough since the information, especially technical details and marketing strategies, loses its value very quickly.
- Non-compete clause . This condition is not included in every NDA but if you believe you need to prevent your ex-employee from working for your local rivals because this employment will inevitably lead to the disclosure of sensitive data, you can add this provision to your contract along with your obligation to provide the person in question with compensation for losing an employment opportunity.
- Penalties for the contract violation . The parties may discuss and record the amount of compensation the breaching party must pay in the event of the disclosure. It is also advised to determine the process of requesting the other party to put an end to the violation if the disclosure continues and point out the jurisdiction for the eventual lawsuit if legal action is inevitable.
- Signatures of the parties . Do not complete the contract without a notary public - they will verify your identities (alternatively, the identities of legal representatives) and put a notary seal on your document.
Still looking for a particular template? Take a look at the related templates below:
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