Illinois Agreement Not to Disclose Trade Secrets
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How to fill out Agreement Not To Disclose Trade Secrets?
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FAQ
Illinois has adopted the model Uniform Trade Secrets Act (UTSA), with slight modification. It is referred to as the Illinois Trade Secrets Act (ITSA) (765 ILCS 1065/1 to 1065/9).
The ITSA defines a "trade secret" as information, including but not limited to, technical or nontechnical data, a formula, pattern, compilation, program, device, method, technique, drawing, process, financial data, or list of actual or potential customers or suppliers that: (1) is sufficiently secret to derive
Trade Secrets Act This statute, enacted in 1948, is actually of narrow applicability. It forbids federal government employees and government contractors from making an unauthorized disclosure of confidential government information, including trade secrets.
This is a relatively simple legal agreement between a company and a counter-party of that company to exchange information, for the purpose of a project, marketing campaign, R&D or sourcing, etc.
Adoption by U.S. states As of June 2019, the UTSA has been adopted by all states except New York and North Carolina (but its law is very similar and seems to borrow heavily from the act 1).
Since trade secrets are not made public, unlike patents, they do not provide defensive protection, as being prior art.
A trade secret can also be revealed legally, and you have no recourse in this case, even if it was not your intention to reveal it. Illegal disclosure may be made by people who: Used illegal means, such as theft or bribery, to obtain the information.
Trade secret protection lasts for as long as the secret is kept confidential without any statutory limitations period. However, once a trade secret is made available to the public, trade secret protection ends.
Contrary to patents, trade secrets are protected without registration, that is, trade secrets require no procedural formalities for their protection. A trade secret can be protected for an unlimited period of time, unless it is discovered or legally acquired by others and disclosed to the public.
Trade secrets may be disclosed during meetings between parties. Ideally, such disclosures are made under a confidential disclosure or nondisclosure agreement, and should always reveal only as much trade secret information as is required under the circumstances.
