Updated May 17, 2022
A Pennsylvania non-disclosure agreement is used to ensure that Confidential Information owned by one or both of the agreement’s signatories is not disclosed to competing businesses. In signing the form, the parties have shown that they’re aware of the confidentiality of the business’s Trade Secrets, that there will be consequences should they release them to a third party, and that the agreement will remain in effect until written notice is given or the information in question no longer falls under the umbrella of Trade Secret or Confidential Information.
Laws – Title 12, Ch. 53 §§ 5301 – 5308 (Uniform Trade Secrets Act)
“Trade Secret” Definition
“Trade secret.” Information, including a formula, drawing, pattern, compilation including a customer list, program, device, method, technique or process that:
(1) 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) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
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