Updated July 04, 2022
An Ohio non-disclosure agreement is a document used to protect a business entity’s business interests and Trade Secrets. Signed by one (1) or two (2) parties (if using this template), the agreement contractually binds the signatories to protect the Confidential Information defined therein. If a party should release the secrets of the business to a third party, they will be exclusively and completely liable. The contract can serve as proof that the responsible party was aware of the secrecy of the information in question, that they agreed to keep it secret, and that they were aware of the consequences of failing to do so.
Laws – ORC §§ 1333.61 – 1333.69
“Trade Secret” Definition
“Trade secret” means information, including the whole or any portion or phase of any scientific or technical information, design, process, procedure, formula, pattern, compilation, program, device, method, technique, or improvement, or any business information or plans, financial information, or listing of names, addresses, or telephone numbers, that satisfies both of the following:
(1) It 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.
(2) It is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Video
