Colorado Non-Disclosure Agreement
The Colorado Non-Disclosure Agreement is a document signed by two (2) parties that prohibits trade secrets from being shared with anyone outside of the agreement. The contract is used for protecting a person or company’s closely guarded trade secrets from getting into the hands of third parties. The form can be used to protect a company’s trade secret, pattern, formula, process, or technique from being shared with anyone not included in the contract. To prevent misappropriation (the intentional, illegal use of property, ideas, or funds), the complainant (person completing the form) can be rewarded for any damages deemed to be a result of the stolen secret(s) and can have attorney fees covered (in qualifying situations) as well.
The form, which is compliant with Colorado’s trade secret laws, can be used as either a mutual NDA (both parties learn secrets) or as a unilateral NDA (only one party discloses secret information) by checking one of two (2) boxes found on the first page of the form.
Colorado Trade Secret Law
The following is a section-by-section breakdown of the Colorado Uniform Trade Secrets Act:
- § 7-74-101: The title of Article 74.
- § 7-74-102: Definitions of “Improper means,” “Misappropriation,” and “Trade secret”.
- § 7-74-103: When Injunctive Relief will be issued.
- § 7-74-104: Requirements for damages to be recovered.
- § 7-74-105: Situations that garner the reimbursement of attorney fees.
- § 7-74-106: What the court does to preserve trade secret(s).
- § 7-74-107: The time limit for bringing a case of misappropriation.
- § 7-74-108: How Article 74 affects other laws.
- § 7-74-109: Conveys that Colorado’s version of the UTSA is meant to be uniform with other state’s versions.
- § 7-74-110: Severability Clause.