Updated June 04, 2023
A North Dakota non-disclosure agreement is an agreement that obligates two (2) or more parties to keep trade secrets confidential. It is not uncommon for an employer to present such an agreement to an employee when they are first hired as this will protect the employer if the employee discloses the business’s Trade Secrets to a competing company. If this occurs, and the secrets are exposed, the employer can then use this document as proof that the employee agreed to hold and maintain the information in the strictest of confidence, and they can in turn demand compensation for the misappropriation of the business’s intellectual property.
Laws – §§ 47-25.1-01 – 47-25.1-08 (Trade Secrets)
“Trade Secret” Definition
“Trade secret” means information, including a formula, pattern, compilation, program,
device, method, technique, or process, 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; andb. Is the subject of efforts that are reasonable under the circumstances to maintain
its secrecy.
Video
