Updated June 04, 2023
An Iowa non-disclosure agreement is a contract between two (2) parties that intends to protect Trade Secrets and other Confidential Information. Confidential Information can be defined as any number of things, from software to business models, schedules to marketing plans. Even information relayed verbally can fall under the umbrella of Confidential Information. Non-disclosure agreements (NDAs) are a fool-proof and legally viable way to ensure that valuable and sensitive information remains secure and out of the hands of competing businesses.
Laws – Iowa Code §§ 550.1 – 550.8 (Uniform Trade Secrets Act)
“Trade Secret” Definition
“Trade secret” means information, including but not limited to a formula, pattern, compilation, program, device, method, technique, or process that is both of the following:
a. Derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by a person able to obtain economic value from its disclosure or use.
b. Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
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