Download Wyoming Non-Disclosure Agreement Template [PDF]

The Wyoming non-disclosure agreement (NDA), or confidential disclosure agreement, is a legal document that sets the terms and conditions for sharing confidential information and trade secrets.

It is signed between two or more parties that accept the obligation not to share the exchanged information with any unauthorized third party.

What is a Trade Secret in Wyoming?

A trade secret in Wyoming is a certain practice or method that is considered essential to the operation of a certain business entity, its success, and its position on the market, and that must be kept confidential as its competitive advantage.

Types of Non-Disclosure Agreements

In this section, you can see the main types of non-disclosure agreement forms. The main differentiation point is based on who takes on the responsibility of keeping the shared information confidential.

Therefore, we make a difference between:

Two Types of Non-Disclosure Agreements

Unilateral NDA: Here, the party signing the NDA accepts not to share the information shared by the party issuing the document.
Mutual NDA: Here, all the parties are under an obligation not to share confidential information with any third parties.

Legal Requirements for Wyoming Non-Disclosure Agreement

In this section, you can see the state laws and requirements for the Wyoming non-disclosure agreement template:

Mandatory Requirements

Statutes: § 40-24-101 to 40-24-110
Definitions: § 40-24-101
Statute of limitations: An action for misappropriation must be brought within four years after the misappropriation is discovered. (§ 40-24-106)

What Can a Non-Disclosure Agreement Be Used For in Wyoming?

The Wyoming non-disclosure agreement can be used in different situations depending on the type of information the parties want to protect, the level of confidentiality of this information, the entity that signs the document, and more.

This section will outline the most common reasons parties decide to use the NDA:

NDA Uses and Scopes

Protection of business and trade secrets: The businesses use the NDA to protect the confidential information third parties (business partners, suppliers, and vendors) get access to during their business interactions.
Protection of information after litigation: The parties often use the NDA to protect the confidentiality of their litigation settlement agreement.
Protection of information during employment: The employers use the NDA to protect the information their employees get access to during their employment period. The NDA is usually signed along with the employment agreement.
Protection of information during research collaboration: The research organizations use the NDA to protect the findings they acquire during their research.

Wyoming Non-Disclosure Agreement FAQ

Yes, the NDA is a legally binding document in Wyoming. All the parties taking on the obligation from the NDA must have legal capacity when signing the document.
The Wyoming NDA doesn’t need to be signed in front of a witness to be valid. However, the parties might consider including witness signatures if they want to provide additional authentication for the document.
Yes, you can always decline to sign the NDA in Wyoming. However, before doing so, you should consider all the consequences this action might have in terms of your relationship with the party issuing the NDA.