Breach of NDA
An act governing the misappropriation of confidential information, or “trade secrets,” has not yet been established in New York. As such, misappropriation cases will be ruled by common law. The time limit for seeking damages is generally three years from the discovery of a breach in the agreement.[1]
Trade Secret: Defined
New York courts take six factors into consideration to determine if the sensitive information is a trade secret:
- The economic value the information is to the business and its competitors.
- The amount of resources invested in developing the trade secret.
- If reasonable measures have been taken to keep the information private.
- If the information is known outside of the business.
- Whether the information is only disclosed to employees and those within the company.
- How difficult it would be for others to develop the same information.