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 NDA requirements in Vermont, 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 can 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 who 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 who may come together with an idea and need to share sensitive information with each other. - Now, let's discuss NDA laws in Vermont. Vermont has its own set of laws that apply to NDAs. If someone violates a legal NDA in Vermont, the harmed party has up to six years to bring action in court and may be entitled to significant damages. - There are state limitations as to what is deemed a trade secret, but more information on laws can be found at the link below. - So, what should the agreement include? At a minimum, it should include the names of the...
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Video instructions and help with filling out and completing Dd 1750
