Updated May 17, 2022
A Kentucky non-disclosure agreement (NDA) is a contract drawn up between two (2) parties that legally binds either or both to protect trade secrets and other confidential information. If either party leaks information, whether accidentally or by their own volition, they will be held responsible and the second party will be able to use the NDA in the court of law to seek compensation for any damages which occurred due to the misappropriation of the information. While it is not legally required, signing an NDA in the presence of a notary public will help to prove its validity should it be required in a legal proceeding.
Laws – §§ 365.880 – 365.900 (Uniform Trade Secrets Act)
“Trade Secret” Definition
“Trade secret” means information, including a formula, pattern, compilation,
program, data, device, method, technique, or process, that:(a) 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(b) Is the subject of efforts that are reasonable under the circumstances to
maintain its secrecy.
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