Updated June 04, 2023
An Oregon non-disclosure agreement is an agreement used to protect trade secrets and confidential information from competing business entities. Once signed by the parties involved, the document serves as proof that all signatories are aware that they are legally bound to maintain the secrecy of the confidential information, that they will suffer consequences should they leak said information, and that the agreement will remain in effect until the owner of the proprietary information gives written notice, or the information no longer qualifies as a trade secret. The agreement can be unilateral, in that only one (1) party owns the information and the other is prohibited from disclosing it. Alternatively, it can be mutual and neither party can disclose the confidential information as neither party has sole ownership.
Laws – ORS §§ 646.461 – 646.475
“Trade Secret” Definition
“Trade secret” means information, including a drawing, cost data, customer list, formula, pattern, compilation, program, device, method, technique or process that:
(a) Derives independent economic value, actual or potential, from not being generally known to the public or to 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.
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