The Montana non-disclosure agreement (NDA), or confidential disclosure agreement, is a legal document created with the goal of protecting certain business or trade secrets from unauthorized sharing with the public.
It is mostly used to protect information about the business organization or operation, intellectual property, client information, and more.
What is a Trade Secret in Montana?
A trade secret in Montana is certain confidential information about the business operation that is considered to be their competitive advantage on the market and, for that reason, must be kept confidential for the public.
Types of Non-Disclosure Agreements
This section presents two main types of non-disclosure agreement forms based on which party takes on the obligation of keeping the exchanged information confidential:
Two Types of Non-Disclosure Agreements
Unilateral NDA: This type of NDA creates an obligation only for the party receiving the confidential information from the party issuing the NDA. This type is mostly used by companies that want to protect the information their employees get access to during their employment.
Mutual NDA: With this type of NDA, all parties signing the document take on the responsibility of keeping the shared information confidential.
Legal Requirements for Montana Non-Disclosure Agreement
This section outlines the legal framework for the Montana non-disclosure agreement template:
What Can a Non-Disclosure Agreement Be Used For in Montana?
In Montana, the non-disclosure agreement template can be used in the following situations:
Non-Disclosure Agreement Uses and Scopes
Protection of intellectual property: Used during the development of a certain intellectual property before it gets formal protection from the intellectual property laws and regulations.
Protection of sensitive business information: Business entities can use the NDA to protect their confidential business information during their interactions with business partners, suppliers, vendors, employees, and other entities.
Protection of client information: Businesses that have certain databases containing sensitive information about their clients use the NDA with the parties that process this information.
After the litigation settlement: The parties choose to use this type of NDA to keep confidential the details of their litigation settlement agreement.
Montana Non-Disclosure Agreement FAQ
Yes, the NDA is a legally binding document in Montana. However, all parties taking on the obligation from the NDA must have legal capacity when signing the document.
No, the NDA doesn’t need to be signed in front of a witness to be valid. However, if the parties want to additionally authenticate the document, they can include the witness signatures.
You can always decline to sign the NDA in Montana. However, this action might have a potential negative impact on the relationship between you and the party issuing the NDA.