Empower Your Business with leads and conversions in NDAs

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non-disclosure agreements or ndas for short are legally binding documents that require people to keep certain information to themselves in this video we'll cover non-disclosure agreements requirements in texas what to include and where to get a state-specific template first let's get into a little more detail about ndas in general an nda also called a confidentiality agreement protects a company organization or individuals business secrets from getting out in the open and especially into competitors hands secrets come in the form of new ideas finances software and any other sensitive information many businesses have learned the hard way that things need to be kept close which is why ndas are so common in today's workforce in fact about a third of the us workforce is bound by an nda ndas are commonly used on employees subcontractors potential investors and anyone else that gains access to sensitive information there are two types of ndas unilateral ndas are more common and typically involve information shared with contractors or employees they are one-way agreements which means that one person the receiving party is agreeing not to share information mutual ndas are less common and involve a few people that may come together with an idea and need to share sensitive information with each other now here's what you should know about nda laws in texas has its own set of laws for ndas called the uniform trade secrets act if someone violates a legal nda in texas the harm party has up to three years to bring action in court and could be entitled to significant damages and attorney fees there are state limitations as to what is deemed a trade secret but we have more information on laws at the link below so be sure to take a look now what should the agreement include at a minimum sections that should be included are as follows the names of the parties and their relationship type of agreement whether unilateral or mutual a description or definition of the confidential information obligations or responsibilities of each party time period severability enforcement and governing law clauses and signatures we're eforms the world's biggest database of legal documents get an official nda template for texas and other states at the link below and don't forget to subscribe for more videos that will help you stay organized