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Virginia Non-Disclosure Agreement (NDA) Template

A Virginia non-disclosure agreement ensures that those with access to a company's Trade Secrets are held liable should they disclose the information without authorization. If there is a breach, the disclosing party may be held liable for damages resulting from the leak of information.
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“Trade Secret” Definition

“Trade secret” means information, including but not limited to, 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.