A North Dakota non-disclosure agreement is designed to protect confidentiality of business secrets. A North Dakota non-disclosure agreement is legally binding.
North Dakota has an entire chapter of its statutes dedicated to trade secrets. N.D. Cent. Code §47-25.1.
Business secrets protected in an NDA are referred to as “trade secrets.” North Dakota law defines a “trade secret” as information including a formula, pattern, compilation, program, device, method, technique, or process. This information must have potential or actual monetary value because it is not information that is known or used by the public and because it is not something simple enough for another business to develop the same process for their own gain. The information that a business considers as a trade secret within a North Dakota non-disclosure agreement must be reasonably protected and kept private by the company.
North Dakota law also states how actual or threatened violation of an NDA may result in legal remedies for a business as well as the type of legal damages the business may be entitled to receive.
Protecting a business is a serious matter. In addition to the use of a North Dakota non-disclosure agreement, a North Dakota noncompete agreement may be used.