Updated June 04, 2023
A New Mexico non-disclosure agreement template is a contract between two (2) parties that binds one (1) or both to maintain the secrecy of Confidential Information. Confidential Information has been described within the document and can include any Trade Secrets or intellectual property that the company in question wishes to keep out of the hands of its competitors. This agreement is governed by the state’s Uniform Trade Secrets Act (provided below) which dictates that the complainant is entitled to recover damages from the misappropriation of their Trade Secrets or the enrichment of a competing company due to the misappropriation of Trade Secrets. The party responsible for the information being mishandled will be 100% liable.
Laws – §§ 57-3A-1 – 57-3A-7 (Uniform Trade Secrets Act)
“Trade Secret” Definition
“trade secret” means information, including a formula, pattern, compilation, 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; and
(2) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
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