A Louisiana Non-Disclosure Agreement (NDA) is a legal contract designed to protect valuable trade secrets and confidential information of individuals and businesses. Grounded in Louisiana’s adoption of the Uniform Trade Secrets Act, the NDA establishes conditions under which sensitive information is shared, requiring the receiving party to maintain confidentiality.
Louisiana NDA Laws Overview
- Governing Laws: Title 51, Chapter 13-A
- Statute of Limitation: A plaintiff has three years to file a lawsuit after discovering the misappropriation (§ 1436).
- Definition of Trade Secret (§ 1431(4)):
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique, or process, that:
(a) 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
(b) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Are NDAs Enforceable in Louisiana?
Yes, NDAs are enforceable in Louisiana. If misappropriation occurs, the disclosing party may recover damages for actual loss, unjust enrichment, or injunctive relief. In cases where the unjust enrichment is not accounted for in damages, courts may also consider that in determining the total award.
