A Maryland Non-Disclosure Agreement (NDA) is used to prevent the sharing of confidential information. It’s often signed by new employees or other parties involved with a company to safeguard sensitive data. The agreement is legally binding and specifies accountability for breaches, with validity lasting as mentioned or until the information is no longer confidential.
Maryland NDA Laws Overview
- Governing Laws: Title 11, Subtitle 12
- Statute of Limitation: A plaintiff has three years to file a misappropriation lawsuit against a defendant (§ 11-1206).
- Definition of Trade Secret (§ 11-1201(e)):
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique, or process, that:
(1) 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
(2) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Are NDAs Enforceable in Maryland?
Yes, NDAs are enforceable in Maryland. If a breach occurs, the disclosing party may recover damages for the actual loss caused by the misappropriation and any unjust enrichment resulting from it.
