An Arizona non-disclosure agreement is a fundamental legal instrument for businesses and individuals seeking to protect sensitive information and proprietary data. It is crucial in upholding the confidentiality of trade secrets, innovative concepts, and classified information.
Whether you’re a startup sharing your groundbreaking innovations, an employer preserving your company’s trade secrets, or an independent contractor protecting your valuable insights, an Arizona NDA plays a pivotal role in controlling who can access and share your confidential information.
Beyond its legal implications, a non-disclosure agreement can also foster a sense of trust in your business relationships. The parties involved acknowledge a shared commitment to defending the integrity of sensitive information.
The true power of a non-disclosure lies not only in its legal weight but also in its ability to facilitate open collaboration while safeguarding the most valuable assets.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 44-401(2)): The acquisition, disclosure, or use of a trade secret when the person acquiring, disclosing, or using it knows or has reason to know that their actions constitute a breach of a duty of confidentiality. The liable party shall pay attorney’s fees (§ 44-404) and compensation that includes up to two times the amount lost due to the misappropriation (§ 44-403).
Statute of Limitation (§ 44-406): A plaintiff in Arizona can sue within three years once the misappropriation is discovered.
Trade Secret Definition (§ 44-401(4)):
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique or process, that both:
- 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.
- Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.