Updated March 05, 2024
A Florida non-disclosure agreement is a document signed by two (2) parties which binds either or both to keep certain confidential or proprietary information out of the hands of a third (3rd) party. Valuable data, software, marketing plans, prototypes, and the like are classified as Confidential Information. Should a party release the information, or Trade Secrets, to another competing business, the damaged party will be able to use the non-disclosure agreement to seek compensation for any lost capital. The agreement is governed by the Florida Statutes (see below for more information).
Laws – §§ 688.001 – 688.009 (Uniform Trade Secrets Act)
“Trade Secret” Definition
“Trade secret” means information, including a formula, pattern, compilation, program, 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.