Updated June 04, 2023
An Alaska non-disclosure agreement allows individuals and entities to protect their trade secrets. The term of the agreement is usually perpetual and lasts until either the information becomes public or the releasor grants a release. If there are two (2) parties to the agreement, it is considered a mutual agreement where they will be bound to each other. This type of agreement is common when technology is shared in an effort to produce a product or service that serves the interests of both parties.
There are no signing requirements although it is recommended to have the signatures witnessed by a third (3rd) party or a notary public.
Laws – AS 45.50.910 – AS 45.50.945 (Alaska Uniform Trade Secrets Act)
“Trade Secrets” Definition
“trade secret” means information that:
(A) derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and
(B) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.