Updated on September 5th, 2022
A Colorado non-disclosure agreement is used when a person or entity shares trade secrets with another party and wishes to keep that information confidential. Keeping trade secrets from the public through a non-disclosure agreement is a common practice, as the misappropriation of confidential information could cause the owner to lose their competitive advantage, and in turn, their organization could be harmed.
NDAs can be used when businesses wish to share information with each other, and they can also be presented to employees upon hiring to ensure any trade secrets they learn during the course of employment are not disseminated. Recovering from the misuse of trade secrets, or attempting to stop the dissemination thereof, can be accomplished by seeking injunctive and monetary relief.