Updated June 04, 2023
A Vermont non-disclosure agreement is used to protect the confidentiality of a company’s Trade Secrets. This agreement, once signed, can serve as legal proof that both signatories were fully aware of the consequences of releasing Confidential Information or Trade Secrets to the public and that they were conscious of the confidential nature of said information. An agreement of this nature is often used when two companies are planning on doing business together and require access to sensitive information in order to evaluate the possible engagement. An NDA agreement is also often used before a new employee gains access to a company’s Trade Secrets.
Laws – Title 9, Ch. 143 : Trade Secrets
“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.
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