Nebraska non-disclosure agreements (NDA’s) are legal documents in which the party that becomes privy to trade secrets agrees not to reveal the information obtained. An NDA is most often made between an employer and their employee, however, it may also be used for other situations in which sensitive information is being exchanged. The document becomes legally enforceable once both parties have signed it and it will remain effective indefinitely unless a court finds it to be invalid. Furthermore, any “confidential information” that is public knowledge, is known already to the receiving party, or is divulged by someone other than the receiving party, is not considered a trade secret and can therefore not be protected by an NDA.
Misappropriation (§ 87-502(2) and § 87-504) – The misappropriation of trade secrets and other business information can result in the complainant being entitled to recover damages. Damages include the employer’s financial loss caused by misappropriation, as well as the unjust enrichment of the other party.
Trade Secret Definition (§ 87-502(4)) – A trade secret is defined by law as information, including, but not limited to, a drawing, formula, pattern, compilation, program, device, method, technique, code, or process that:
(a) Derives independent economic value, actual or potential, from not being known to, and not being ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and
(b) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.