The Nevada non-disclosure agreement (NDA), or confidential disclosure agreement, is a legal document signed between two or more parties that guarantees that the information exchanged between them won’t be shared with any third party without the previous authorization.
What is a Trade Secret in Nevada?
In Nevada, a trade secret is proprietary information that is crucial for the business’s operation and success, is not publicly known, and is kept confidential as a competitive advantage of that business.
Types of Non-Disclosure Agreements
In this section, you can see the main types of non-disclosure agreement forms based on which party takes on the responsibility of not sharing the exchanged information with any third party:
Two Types of Non-Disclosure Agreements
Unilateral NDA: Here, only one party takes on the obligation of confidentiality. It is mostly used by companies that want to protect the confidential information their employees get access to during their employment.
Mutual NDA: Here, all parties to the NDA take on the obligation of confidentiality. This is mostly used in situations where all parties share certain confidential information with the other parties.
Legal Requirements for Nevada Non-Disclosure Agreement
This section presents the legal framework for the Nevada non-disclosure agreement template:
What Can a Non-Disclosure Agreement Be Used For in Nevada?
The Nevada non-disclosure agreement template can be used in different situations depending on the type of information the parties want to protect, the level of confidentiality of the information, and who is signing the document.
Therefore, here you can see the most common reasons parties decide to draft the NDA:
NDA Uses and Scopes
Protection of business information: The parties can define what kind of information will enter the scope of business and trade secrets in the NDA and form an obligation not to share this information with third parties.
Protection of customer information: The parties that must share certain sensitive information about their clients with the third parties that are processing this information are using the NDA to secure the shared information.
Protection of information during research collaborations: The NDA can also be used by the research organization that wants to protect sensitive information during the research process or to protect the research results.
Protection of intellectual property: Parties use it to protect the creative work, software, inventions, and other types of intellectual property the other parties have access to during the interaction with the party issuing the NDA.
Nevada Non-Disclosure Agreement FAQ
Yes, the NDA is a legally binding document in Nevada. All the parties signing it must have legal capacity. Otherwise, the document won’t be binding for them.
The Nevada NDA doesn’t need to be signed in front of witnesses to be valid. However, the parties might consider including witness signatures to additionally confirm the document’s authenticity.
Yes, you can decline to sign the NDA in Nevada. However, before doing so, you should carefully consider the consequences that action might have on the relationship between you and the party issuing the NDA.