The Maine non-disclosure agreement (NDA) is legal document applied to a business relationship between two parties for the purposes of keeping one party’s trade secrets and confidential information from being inappropriately disclosed. Whereas the disclosing party needs to share information about their business to the receiving party, the receiving party will be asked to sign the non-disclosure agreement and refrain from sharing said information to any third party. The receiving party is bound by the terms of the agreement until the agreement is terminated or until such a time when the information no longer qualifies as a trade secret. Any breach of a non-disclosure agreement could result in punitive action taken by the injured party in a Maine court of law.

Laws – 10 § 1541 et. seq.

Misappropriation (10 § 1542 (2)) – Disclosing party may be awarded damages should actual or threatened misappropriation occur through fault of the receiving party (10 § 1544).

Trade Secret Definition – A “trade secret” is information that:

  • 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
  • Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.