A New Hampshire non-disclosure agreement is a legal contract used to protect confidential business information, trade secrets, and proprietary data. This agreement binds one or more parties to secrecy, preventing them from disclosing confidential material to unauthorized entities.
While this agreement is standard within employer-employee relationships, businesses can use it with their clients, partners, and other parties. The NDA defines the confidential information in question, the obligations of the party/parties not to disclose, and the legal consequences of breaching the contract.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 350-B:3): Someone who breaches an NDA agreement by misappropriating information must pay damages equal to the true financial loss and the unjust enrichment that results from the misappropriation. A court may award up to twice the amount in cases of malicious and willful misappropriation.
Statute of Limitation (§ 350-B:6): A plaintiff must file a lawsuit within three years of discovering the misappropriation of their proprietary data.
Trade Secret Definition (§ 350-B:1(IV)):
“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.