Alaska Non-Disclosure Agreement Template
The Alaska Non-Disclosure Agreement (NDA) prevents a company’s secretive and highly valuable information from being leaked to the public or used to benefit the entity learning the secret(s). NDAs come in two (2) general types; unilateral (“one-way”) and bilateral (“two-way”). Unilateral contracts should be used if there is only one (1) person anticipating sharing information. Alternatively, the bilateral type should be used when both parties plan on sharing confidential information with each other. NDAs can be used for any situation when a secret needs to be protected. Examples of when NDAs are typically signed include when:
- A new employee is hired who will have access to company secrets,
- A company’s business plan will be discussed during a potential merger,
- An engineer/designer is pitching their new unpatented invention to potential investors, or
- A patient’s test results must be protected from any other party than the medical staff.
Trade Secret Law
Statute of Limitations (§ 45.50.925): All cases relating to misappropriation must be brought within three (3) years of discovery. “Discovery” also refers to when the misappropriation should have been discovered.
How to Write
Step 1 – Download
Download the NDA in either Adobe PDF or Microsoft Word (.docx). For a more user-friendly option, the PDF version is suggested for its fillable fields. For a more editable version, the Word format should be downloaded.
Step 2 – Party Identification
Record the date that the contract is to officially go into effect (day, month, and year). Next, have “Party A” write their full name (or company name) followed by their address. If the agreement will be unilateral (only one party shares information), “Party A” should be the entity sharing the information. Otherwise, it doesn’t matter which party is “A” or “B.”
Then, have “Party B” write their name and address in the designated fields in the same fashion as “Party A.”
Step 3 – Type of Agreement
To make the contract unilateral (one party keeps secrets, whereas the other party shares secrets), check the first box and have both parties put the initials in the provided spaces. If the parties plan on sharing confidential information with each other, check the lower box and have the parties initial the spaces.
Step 4 – Signatures
Head to the third (3rd) page of the contract. Here, both parties must sign the document, write their printed names, their company titles, and the dates they are signing the document. Once this step is completed, the NDA will become valid and active in the eyes of the law.