A Montana non-disclosure agreement (NDA) is a legal document that helps protect confidential information and trade secrets. Businesses can use it when they want to share proprietary information with others, such as employees, contractors, and partners. This contract prevents receiving parties from using confidential data for any purpose other than what the agreement specifies.
Having relevant parties sign an NDA is a great way for a business to maintain its competitive edge and protect its ideas from competitors. In the event of a breach, the NDA lets the disclosing party seek legal recourse and recover damages.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 30-14-404): A complainant can seek damages if a party misappropriates their proprietary information. These damages include the actual loss from the misappropriation and any unjust enrichment. If willful and malicious misappropriation is present, a court may award exemplary damages.
Statute of Limitation (§ 30-14-407): The statute of limitation for a misappropriation case is three years from when it was initially discovered.
Trade Secret Definition (§ 30-14-402(4)):
“Trade secret” means information or computer software, 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.
