A Georgia non-disclosure agreement is a legal document for businesses and individuals operating within the state, protecting sensitive information, trade secrets, and proprietary data.
Within the non-disclosure agreement, legal obligations are meticulously outlined, ensuring that all parties engaged in a business relationship are committed to preserving the confidentiality of information. The agreement imposes strict limitations on sharing, using, or disclosing such data to third parties, strengthening the integrity of confidential information.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 10-1-761(2)): It encompasses the improper acquisition, disclosure, or use of another party’s trade secrets or confidential information. The prevailing party is entitled to recover damages (§ 10-1-763) and reasonable attorney’s fees (§ 10-1-764).
Statute of Limitation (§ 10-1-766): Legal action must be taken within five years after the misappropriation is discovered.
Trade Secret Definition (§ 10-1-761(4)):
“Trade secret” means information, without regard to form, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers which is not commonly known by or available to the public and which information:
- Derives 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; and
- Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.