The Oregon non-disclosure agreement (NDA) is a contract that is most often used by employers during the hiring process to ensure that employees will not use or disclose trade secrets. In the NDA document, one party agrees not to misappropriate confidential information received from the disclosing party. Both parties must sign the contract in order for it to be considered validated, and it remains effective unless the subject is released from it or the trade secrets described therein become public information. If the subject breaks the contract by revealing or misappropriating confidential information, they will be liable to pay damages to the disclosing party.
Misappropriation (§ 646.465) – A complainant is entitled to recover damages adequate to compensate for misappropriation, and in some cases, they may be awarded up to double the original amount in additional punitive damages.
Trade Secret Definition (§ 646.461) – “Trade secret” means information, including a drawing, cost data, customer list, formula, pattern, compilation, program, device, method, technique or process that:
(a) Derives independent economic value, actual or potential, from not being generally known to the public or to 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.