North Dakota Non-Disclosure Agreement
The North Dakota Non-Disclosure Agreement is a binding agreement used for preventing business people, employees, contractors, and other individuals from wrongly using and/or sharing information. For unilateral-type contracts, the party holding the secret(s) is referred to as the “disclosing party”, whereas the party learning the secrets is referred to as the “receiving party.” For agreements of the mutual type (both parties disclose info), the parties can be classified by another means, such as their company names or “Party A” or “Party B”, for example.
Secretive information is formally classified as “trade secrets” according to ND statutes, and includes any information that is 1) not readily accessible by the general public, 2) has real or potential economic value to those that own the secret, and 3) is actively being protected from being discovered by outside means.
Trade Secret Law
Statute of Limitations (§ 47-25.1-06): A case of misappropriation must be brought within three (3) years after discovering the secret(s) have been stolen, or after discovery should have been reasonably made.
Attorney’s Fees (§ 47-25.1-04): The court may award the prevailing party with the cost of attorney’s fees if one (1) of the following hold true:
- A claim is made wrongly / disingenuously.
- A motion to terminate an injunction is “made or resisted in bad faith.”
- The misappropriation was both willful and malicious.