An Ohio Non-Disclosure Agreement safeguards sensitive information shared with parties like employees, consultants, and contractors. It is governed by the Ohio Uniform Trade Secrets Act (OUTSA), which mandates that the NDA identifies the trade secrets being protected and the duration of the agreement. Injunctive relief and damages for any breach are allowed under the act.
Ohio courts may award punitive damages in willful and malicious misappropriation of trade secrets. Signatories accept liability for third-party disclosures, with any breach incurring exclusive and full liability. Ohio courts may award claimants up to three times the assessed damages for breaches.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 1333.63 and § 1333.64): Claimants may receive damages for financial loss caused by misappropriation. In cases of willful and malicious misappropriation, the court may award reasonable attorneys’ fees and punitive damages of up to three times the regular amount.
Statute of Limitation (§ 1333.66): If the plaintiff discovers any misappropriation, they have a period of four years to file a lawsuit against the defendant.
Trade Secret Definition (§ 1333.61(D)):
“Trade secret” means information, including the whole or any portion or phase of any scientific or technical information, design, process, procedure, formula, pattern, compilation, program, device, method, technique, or improvement, or any business information or plans, financial information, or listing of names, addresses, or telephone numbers, that satisfies both of the following:
(1) It 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.
(2) It is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
