A Maine non-disclosure agreement is used to prevent employees and contractors from disclosing company secrets, such as trade secrets, to the public or competitors. For a Maine non-disclosure agreement to be legally binding, it is important that it be carefully worded.
Maine’s Uniform Trade Secrets Act, 10 M.R.S. §§ 1541 through 1548, regulates non-disclosure agreements.
The definition of “trade secret” for the State of Maine is found in 10 M.R.S. § 1542. This section of Maine’s Uniform Trade Secrets Act defines a “trade secret” as information like a formula, pattern compilation, program, device, method, technique, or process that has potential or actual monetary value to the business. This value occurs because the information isn’t generally known to the public. It’s also not something that another business could easily come up with and do. Trade secrets must be kept secret through reasonable efforts put forth by the company wanting to protect that information.
Maine’s Uniform Trade Secrets Act also provides the type of relief that a business may be entitled to receive if the NDA is violated by a contractor or employee.
To provide additional protection, this document may be used along with a Maine non-compete agreement.