Updated on September 13th, 2022
A Minnesota non-disclosure agreement is a document that protects sensitive information from being disclosed to unauthorized parties. This agreement is standard in the workplace, where trade secrets and other confidential information need to be shared to ensure operations run smoothly.
Non-disclosure agreements come in two (2) forms: mutual and unilateral. A mutual agreement is used when both signing parties share information and are prohibited from disclosing it. A unilateral contract is used when one party is the owner of the information, and the second party is not permitted to divulge it to others without consent from the owner.
- Statutes: Chapter 325C
- Definitions: § 325C.01
- Statute of Limitation (§ 325C.06): If the agreement is violated, misappropriation action must be taken within three (3) years.