True" 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 Massachusetts, 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 individual's 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 Massachusetts. Massachusetts is one of the two states that has not adopted the Uniform Trade Secrets Act, which is a set of laws that govern NDAs. However, the state does have a set of laws that apply to trade secrets. If someone violates a legal NDA in Massachusetts, the harmed party has up to three years to bring action in court, and they could be entitled to significant damages. There are state limitations as to what is deemed a...
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Video instructions and help with filling out and completing Dd 1750
