A Mississippi non-disclosure agreement (NDA) is a legal document that conceals confidential information and trade secrets from improper disclosure. A company can employ this document in employee-employer and other business relationships to ensure the party receiving sensitive information understands the severity of protecting the company’s data.
In Mississippi, the disclosing party can create this agreement in accordance with the state’s Uniform Trade Secrets Act. Some NDAs are unilateral, meaning one party owns the confidential data, and the other party should prevent third-party access. A mutual NDA is useful when both parties want to share trade secrets and agree to safeguard the provided information.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 75-26-7): A complainant has the right to pursue damages in court for the misappropriation of their confidential information. They can seek damages for the actual loss caused by the misappropriation and any resulting unjust enrichment. In cases of malicious and willful misappropriation, the court can grant exemplary damages.
Statute of Limitation (§ 75-26-13): The statute of limitation for misappropriation cases is three years from the date of discovery.
Trade Secret Definition (§ 75-26-3(d)):
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique or process, that:
(i) Derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and
(ii) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.