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Michigan Non-Disclosure Agreement (NDA) Template

A Michigan non-disclosure agreement is a document used to bind two individuals to hold and protect Confidential Information as described within the contract. If the Confidential Information or Trade Secrets get into the hands of a third-party competitor, the party responsible for the misappropriation of the company's secrets is liable.
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“Trade Secret” Definition

“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique, or process, that is both of the following:

(i) 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.

(ii) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.