An Alaska non-disclosure agreement is a vital safeguard for your sensitive information. Whether it’s proprietary data, innovative concepts, or confidential documents, this legally binding contract empowers you to control access to and disclosure of your confidential information.
Having a robust non-disclosure agreement in today’s competitive business landscape is crucial. The document serves as the first line of defense in protecting your trade secrets, securing your valuable assets, and maintaining control over who can access and share your confidential information.
Trade Secret Laws
UTSA Version Adopted: 1979
Misappropriation (AS 45.50.940): The acquisition, disclosure, or use of a trade secret by someone who knows or has reason to know that their actions represent a breach of a duty of confidentiality. Misappropriation may also occur when trade secrets are acquired through improper means. In addition to injunctive relief, offenders may be subject to damages (AS 45.50.915).
Statute of Limitation (AS 45.50.925): Alaska’s statute of limitations for trade secret misappropriation claims is three years after its discovery.
Trade Secret Definition (AS 45.50.940(3)):
“Trade secret” means information that:
- 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
- Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.