The Washington Non-Disclosure Agreement (NDA) is a form that lists information that cannot be told to competitors, the public, and other third parties. It is used to stop the unlawful spread of confidential information (known as “trade secrets”) that is owned by the individual or entity planning on sharing it. NDAs typically last for 1-5 years, although they can be made to have any duration. Setting the duration as “infinite” is not recommended as it is very hard to enforce in a court of law. Depending on what the form will be used for, it can be used for “two-way” situations (both parties share confidential info), or “one-way” agreements where only one (1) entity discloses secrets.
“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.[1]