A New Hampshire non-disclosure agreement is referred to as a confidentiality agreement. The objective of a New Hampshire non-disclosure agreement is to prevent employees or contractors from giving business secrets to the public or to competitors.
New Hampshire non-disclosure agreements as regulated by the State’s Uniform Trade Secrets Act, NH Rev Stat §§ 350-B:1 through 350-B:9.
NDAs are used to protect business secrets, but uses the term “trade secrets.” To rely on New Hampshire law to protect business secrets, it’s important to understand the definition as it is used in NH Rev Stat § 350-B:1 (2014): information such as a formula, pattern, compilation, program, device, method, technique, or process with its own potential or actual financial value because the information is something that isn’t generally known by the public or other businesses. In short, it’s something unique to the business. It also cannot be information that is so basic that another business could easily figure it out on their own and use it to their advantage. Businesses claiming information as a trade secret must take reasonable action to keep that information secret.
New Hampshire’s Uniform Trade Secrets Act also explains how businesses can protect the secrecy of the information and what damages they may be entitled to receive if an employee or contractor violates the NDA.
An NDA is beneficial, but for additional protection it should be used with a New Hampshire noncompete agreement.