A Delaware non-disclosure agreement establishes an arrangement between two parties prohibiting the unauthorized disclosure of trade secrets. When only one party is sharing information in the arrangement, the NDA is unilateral. If both parties are exchanging trade secrets with each other throughout the agreement term, the NDA is mutual.
A Delaware non-disclosure agreement establishes an arrangement between two parties prohibiting the unauthorized disclosure of trade secrets. When only one party is sharing information in the arrangement, the NDA is unilateral. If both parties are exchanging trade secrets with each other throughout the agreement term, the NDA is mutual.
If a breach occurs, the defaulting party can face legal action. In Delaware, the plaintiff has three years from the time misappropriation is discovered to file a lawsuit.[1]
Delaware statutes defines a trade secret as information that[2]:
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