North Dakota Non-Disclosure Agreement
The North Dakota Non-Disclosure Agreement, sometimes referred to as a “Secrecy Agreement,” is a binding agreement that is used in situations in which a company or individual will be sharing highly secretive information with another party and do not wish them to disclose what they learn to anyone else. The party with the secrets is referred to in the contract and state NDA laws as the Disclosing Party, whereas the party they will tell the secrets to is referred to as the Receiving Party. Typically, the Receiving Party will be:
- A potential employee,
- A new employee,
- A client,
- A consultant,
- An investor, or
- Another company.
Secret information, called “Trade Secrets” are protected by North Dakota’s laws without needing to sign an NDA. That being said, signing one can help to ensure the victim gets all the compensation they deserve as well as making sure all parties are clear on what is deemed confidential and not.
Trade Secret Law
North Dakota’s rendition of the Uniform Trade Secrets Act, Chapter 47-25.1, depicts a number of vital matters that are directly relevant to both the Disclosing Party and Receiving Party including a) how the courts handle stolen trade secrets, and b) what criteria must be met for victims of misappropriation (embezzlement) to receive compensation for damages, or have an injunction issued.
To aid in understanding these laws, the sections of the Act have been described below.
- § 47-25.1-01: Definitions – This section gives the definitions of “Improper Means,” “Misappropriation,” “Person” and “Trade secret” to aid in your understanding of the sections that follow.
- § 47-25.1-02: Injunctive relief – States the situations in which the court will order an injunction (halts an action from happening, in this case, using a stolen trade secret).
- § 47-25.1-03: Damages – Notes when the court will award damages to the victim of misappropriation.
- § 47-25.1-04: Attorney’s fees – Provides the certain circumstances in which the courts will pay the winning party’s attorney’s fees.
- § 47-25.1-05: Preservation of secrecy – This section lists the actions the courts take to ensure trade secrets do not get further disclosed to the public or third (3rd) parties.
- § 47-25.1-06: Statute of limitations – Establishes how long, after discovering the wrongdoing, a complainant has to bring a case of a misused/stolen trade secret.
- § 47-25.1-07: Effect on other laws – Explains how Chapter 47-25.1 affects other North Dakota laws.
- § 47-25.1-08: Short title – Simply the citeable title, which is the “Uniform Trade Secrets Act”.
How to Write
Step 2 – The Current Date (Day, Month, and Full Year) followed by both party’s Full Names and Addresses will need to be provided in the relevant fields located at the beginning of the document.
Step 3 – On the contract’s last page, both parties’ Printed Names, Company Titles must be written. Next, the Dates they are providing their information must be stated. The very last step is for both parties write their Signatures in the “Signature” fields provided.