A Hawaii non-disclosure agreement is an essential legal instrument for businesses and individuals, preserving sensitive information, trade secrets, and proprietary data. It precisely defines confidential information encompassing a broad spectrum of data, from unique business strategies and financial information to customer lists, product designs, and intellectual property.
Whether you’re a local entrepreneur, a global corporation, or an environmentally conscious startup, having an NDA ensures your business arrangement complies with the state’s unique legal requirements. Hawaii statutes also offer solid legal backing for the contract’s terms, outlining the legal consequences of non-disclosure agreement breaches and reinforcing its effectiveness as a legal safeguard.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 482B-2): It may involve unauthorized access, disclosure to third parties, or the unauthorized use of confidential data. Punitive measures include reasonable attorney’s fees (§ 482B-5) and the costs of damages (§ 482B-4).
Statute of Limitation (§ 482B-7): Legal action must be brought within three years after the misappropriation is discovered.
Trade Secret Definition (§ 482B-2):
“Trade secret” means information, including a formula, pattern, compilation, program device, method, technique, or process that:
- 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; and
- Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.