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Illinois Non-Disclosure Agreement (NDA) Template

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Updated November 19, 2024

An Illinois non-disclosure agreement is a contract between two parties that obligates one or both of them to safeguard proprietary and Confidential Information, often referred to as Trade Secrets. Confidential Information can be any non-public data that, if released to the company's competitors, would be detrimental to the individual or organization.

“Trade Secret” Definition

“Trade secret” means information, including but not limited to, technical or non-technical data, a formula, pattern, compilation, program, device, method, technique, drawing, process, financial data, or list of actual or potential customers or suppliers, that:

(1) is sufficiently secret to derive economic value, actual or potential, from not being generally known to other persons who can obtain economic value from its disclosure or use; and

(2) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy or confidentiality.[1]

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