A Wisconsin non-disclosure agreement is a legally binding contract that protects confidential information between two parties. It outlines the nature of the parties’ relationship, the confidential information, and the consequences if a party releases information outside of the contract’s terms.
This agreement can be mutual, where both parties agree not to disclose each other’s trade secrets. It can also be unilateral, where only one party is receiving confidential information and must keep it private. An NDA tends to remain in effect until the disclosing party gives permission to disclose the information or until the information becomes public knowledge.
Trade Secret Laws
UTSA Version Adopted: 1985
Misappropriation (§ 134.90(2)): A complainant can recover damages for the actual loss caused by the violation and the unjust enrichment caused by the violation that isn’t accounted for when computing the actual loss.
The court may measure damages exclusively by the imposition of liability for a reasonable royalty for a violation if the complainant can’t prove an amount of damages that exceeds the reasonable royalty. A court can award up to twice the amount in damages if the misappropriation was willful and malicious.
Statute of Limitation (§ 893.51): A plaintiff should initiate legal action within three years of discovering misappropriation of their information.
Trade Secret Definition (§ 134.90(1)(c)):
“Trade secret” means information, including a formula, pattern, compilation, program, device, method, technique or process to which all of the following apply:
1. The information 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. The information is the subject of efforts to maintain its secrecy that are reasonable under the circumstances.
