A Rhode Island non-disclosure agreement (also known as a “confidentiality agreement”) is a contract that prevents highly sensitive and proprietary information from being shared with competitors and the general public. The form is commonly signed by investors, employees, suppliers, businesses, and any other person or entity that will be learning valuable information that cannot land in the wrong hands.
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique, or process, that:
(i) 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
(ii) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.[1]
