A Wisconsin non-disclosure agreement is a legal document that is used to protect business and trade secrets. A Wisconsin non-disclosure agreement is more commonly referred to as a confidentiality agreement.
Wisconsin adopted the Uniform Trade Secrets Act, Wis. Stat. Ann. §§ 134.90 through 134.90(7), applies to the formation and use of non-disclosure agreements.
Wis. Stat. Ann. §§ 134.90(1)(c) through 134.90(1)(c)2, provides a definition for the term “trade secret.” A trade secret in Wisconsin is information such as a formula, pattern, compilation, program, device, method, technique, or process that has its own actual or financial value. This value comes from the fact that other people or businesses do not have this information. Any business claiming information as a trade secret in a Wisconsin non-disclosure agreement must take reasonable efforts to keep the information secret.
To create a legally enforceable non-disclosure agreement, it is important to include reasonable geographical and time limits. Failure to do so could mean that the agreement is thrown out by the court.
Trade secrets help make businesses competitive. To give this information the most protection possible, use an NDA along with a Wisconsin noncompete agreement.