The Colorado non-disclosure agreement (NDA) enables an employer to impose restrictions on employees to prohibit the disclosure of trade secrets to third parties. Use of the contract ensures the employer that their employees will not misuse sensitive information such as manufacturing techniques, design schematics, client contact details, and any other confidential or proprietary data. According to § 7-74-107, if an employee misuses company information, the employer will have a period of three (3) years from the date the misappropriation was discovered (or should have been discovered) to bring the action to court.

Laws – Uniform Trade Secrets Act

Misappropriation (§ 7-74-102(2)) – Potential penalties for the misuse of trade secrets are reasonable attorney’s fees and damages (§ 7-74-104 through § 7-74-105).

Trade Secret Definition (§ 7-74-102(4)) – “Trade secret” means the whole or any portion or phase of any scientific or technical information, design, process, procedure, formula, improvement, confidential business or financial information, listing of names, addresses, or telephone numbers, or other information relating to any business or profession which is secret and of value. To be a “trade secret” the owner thereof must have taken measures to prevent the secret from becoming available to persons other than those selected by the owner to have access thereto for limited purposes.