Create an Alaska Non-Disclosure Agreement with our customizable template!
A non-disclosure agreement (NDA), also known as an NDA or a confidentiality agreement, is a contract that creates a confidential relationship that prevents one party (or both parties in a mutual agreement) from releasing secret or sensitive information binds a recipient of secret information, including trade secrets or proprietary business information, from misappropriation of the information. If the party violates the non-disclosure agreement, they could be liable for damages. A non-compete agreement should often be used with an NDA to prevent a business or individual from performing competitive activities in the same industry.
Because an NDA is a legal document, any party entering into one should seek legal advice before signing it. This is the best way to ensure that your rights are protected and that the contract is written in good faith.
The state laws that govern Alaska non-disclosure agreements are AS §§ 45.50.910, et. seq . The State of Alaska adopted the Uniform Trade Secrets Act. The purpose of a non-disclosure agreement is to protect business secrets. Business secrets are commonly referred to as trade secrets.
Under Alaska statutes, Alaska non-compete agreements are legal. However, they must also be reasonable. An Alaska non-disclosure agreement is most often used alongside a non-compete agreement. An Alaska non-compete agreement limits the business or employment activities of the employee or independent contractor during or after their work with the company that presented the document.
Alaska’s definition of a “trade secret” is found in AS 45.50.940 . A trade secret is considered information that has independent actual or potential economic value. This information may not be readily or generally known by others. The business must also take reasonable efforts to maintain its secrecy.
To create a basic Alaska non-disclosure agreement template, you must first find and review certain information from Alaska laws. However, there is just no substitute for getting legal advice from a qualified attorney. You'll need to know this information regardless of whether you need a unilateral NDA or a mutual NDA. For example, you'll need to know the time that the NDA is good for.
Understanding the laws on which an NDA is based will help you protect your trade secrets and craft a document that will stand up in court. You can save your template in Microsoft Word (.docx) for easier editing.
Finally, include space for the parties to print and sign their names, to include their professional titles, and to date their signatures. The parties should receive a copy of the documents for their records.
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