A Washington, DC Non-Disclosure Agreement (NDA) is a legally binding contract designed to ensure the privacy of valuable information. It creates a pact of confidentiality, guaranteeing that all parties involved in a business relationship are committed to preserving the secrecy of vital data.
Washington, DC NDA Laws Overview
- Governing Laws: Trade Secrets (Code of the District of Columbia, Chapter 4).
- Statute of Limitation: The claimant has three years to file a lawsuit since the discovery of the misappropriation (Code of the District of Columbia § 36–406).
- Definition of Trade Secret (Code of the District of Columbia § 36–401(4)):
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique, or process, that:
(A) Derives actual or potential independent economic value, from not being generally known to, and not being readily ascertainable by, proper means by another who can obtain economic value from its disclosure or use; and
(B) Is the subject of reasonable efforts to maintain its secrecy.
Are NDAs Enforceable in Washington, DC?
Yes, NDAs are enforceable in Washington, DC. A complainant may recover damages for the loss resulting from misappropriation and reasonable attorney’s fees. [1] [2]
