Updated June 04, 2023
A Utah non-disclosure agreement is a document that can be used to protect confidential business information. The parties who have signed the form agree to hold and maintain the confidentiality of the Trade Secrets and that, should they fail to accomplish this, they will be held 100% liable for any damages which may accrue due to the misappropriation. These documents are often required when an employee is hired, or when two entities are considering doing business together.
Laws – Utah Code Ch. 24 (Uniform Trade Secrets Act)
“Trade Secret” Definition
“Trade secret” means information, including a formula, pattern, compilation, program, device,
method, technique, or process, that:(a) 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(b) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Video
