Delaware Non-Disclosure Agreement (NDA)
The Delaware Non-Disclosure Agreement is a legally-binding document, that once completed, protects valuable information that has been acquired or developed over a significant amount of time. Without a way of securing such essential information it would be far more difficult for companies to maintain a competitive advantage, and in some cases, stay in business altogether. Unique to Delaware, the NDA’s available for download are viewed as official legal documents upon signing. However, it is important that the document be edited to account for the unique situation that the parties are involved in, such as the exact subjects and topics that are deemed confidential and how the parties can remedy a breach (if it were to occur).
Delaware Trade Secret Law
The following are sections § 2001 through § 2009 regarding Delaware’s Trade Secret laws:
- § 2001: Defines “Improper Means,” “Misappropriation,” “Person,” and “Trade secret”
- § 2002: Describes when Injunctive Relief can or will be ordered by the court
- § 2003: Compensation for Damages
- § 2004: The situation(s) which garner having the winning party’s attorney fees covered
- § 2005: States what the court will do in order to protect the trade secret(s)
- § 2006: Statute of Limitations for cases involving misappropriation
- § 2007: The laws which are and are not affected by Delawares Title 6 Chapter 20
- § 2008: Application of the chapter (6)
- § 2009: States the chapter can be cited as the “Uniform Trade Secrets Act”
Statute of Limitations
According to § 2006 of Delaware Code, a plaintiff has three (3) years (after discovering) to bring a case of misappropriation (wrongdoing) to the court.