Wyoming Non-Disclosure Agreement
The Wyoming Non-Disclosure Agreement (NDA) is a binding contract that is used to keep one party’s information confidential after purposely disclosing it to another party. Situations which frequently garner signing an NDA include when a designer of an unpatented product is discussing it with a potential buyer, when a company is pitching its business plan to investors, or any situation in which confidential information will be deliberated. An overview of Wyoming’s Trade Secret Law and a how-to for completing the NDA in both Word and PDF can be found below.
Trade Secret Law
In Wyoming, the law that applies to confidential information or trade secrets that have been stolen or leaked is called the Wyoming Uniform Trade Secrets Act (Title 40 Chapter 24). Consisting of ten (10) sections, the act is important to understand because it includes the remedies that a victim of misappropriation can be rewarded, the amount of time the victim can bring a case, and other meaningful content. Below you can find all ten sections along with a short run-through of each.
- § 40-24-101 – Gives five definitions for terms commonly used during the chapter
- § 40-24-102 – Lays the groundwork for how victims of misappropriation can request the court issue an injunction to stop an entity from continued abuse of a trade secret
- § 40-24-103 – The requirements that must be met in order for the complainant to be rewarded damages caused by a stolen and misused Trade Secret
- § 40-24-104 – Situations in which the court will pay for the winning party’s attorney’s fees
- § 40-24-105 – In order to ensure Trade Secrets are kept safe during litigation the court will take certain steps, which are covered in this section
- § 40-24-106 – The amount of time a victim of misappropriation has to bring a case against the party misusing the confidential information. In Wyoming, the victim has four (4) years after discovering the wrongdoing (or after it should have been discovered)
- § 40-24-107 – This section covers how Chapter 24 affects other laws within the legislature
- § 40-24-108 – A statement common to trade secret laws that states the law is meant to coincide with other states Trade Secret laws
- § 40-24-109 – The citable title of the act
- § 40-24-110 – The act went into effect on July 1st, 2006. Any misappropriation that began before the date (and continued past it) does not apply to Chapter 24
How to Write
Step 2 – After the parties have agreed on the conditions contained within the contract, enter the Full Date into the appropriate fields. The parties will then proceed to enter their Names and Addresses, beginning with the party sharing the secret information.
Step 3 – On the final page, the Names (in print), Company Titles, Signatures, and Dates (that the doc was signed) will need to be written by both parties in the designated tables. Once all information is recorded, the NDA will be in full legal effect.