Breach of NDA
If the party fails to uphold its obligations under the non-disclosure agreement, the injured party has up to five years to seek damages.[1]
Litigation for misappropriation has a shorter three-year deadline. The timeframe is set based on the date misappropriation was discovered, or should have been if reasonable due diligence had been exercised.[2]
Trade Secret Defined
A trade secret if its owner takes reasonable measures to keep it secret and it has independent economic value because[3]:
- It is not generally known.
- Those who can benefit from its exposure cannot easily acquire it.