The Alaska non-disclosure agreement (NDA) is a legal document that is between an issuer and receiver of confidential information. This agreement holds the receiving party accountable to any information that is released to third (3rd) parties a violation and damages to be administered by the disclosing party. The information that is considered confidential must be specified in the agreement along with any parties that may be allowed to share such details with. Once signed, the agreement becomes legally binding.
Misappropriation (AS 45.50.940(2)) – When a trade secret is improperly transferred from one (1) party to another. A violator of a trade secret may be subject to injunctive relief (AS 45.50.910) and damages (AS 45.50.915).
Trade Secret Definition (AS 45.50.940(3)) – 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.