The North Dakota non-disclosure agreement (NDA), or confidential disclosure agreement, is a legal document created between two or more parties with the goal of protecting certain confidential information from unauthorized sharing with third parties.
It is mostly used to protect information about the business organization or operation, intellectual property (trade secrets), client information, and more.
What is a Trade Secret in North Dakota?
A trade secret in North Dakota is certain sensitive information about the business operation or organization that is considered to be the business’s competitive advantage on the market and is, therefore, not shared with the general public.
Types of Non-Disclosure Agreements
This section presents two main types of non-disclosure agreement forms based on which party accepts the responsibility of keeping the shared information confidential:
Two Types of Non-Disclosure Agreements
Unilateral NDA: This type of NDA creates an obligation for the party signing the document. They accept the obligation not to share the information they gained access to during the interaction with the party issuing the NDA.
Mutual NDA: Here, all parties involved accept the obligation of keeping the shared information confidential. It is mostly used in situations where all parties share certain confidential information in their interaction.
Legal Requirements for North Dakota Non-Disclosure Agreement
In this section, you can find the legal requirements regulating the North Dakota non-disclosure agreement template:
What Can a Non-Disclosure Agreement Be Used For in North Dakota?
The North Dakota non-disclosure agreement template can be used in different situations depending on the type of information the parties want to protect, the level of the document’s confidentiality, who is accepting the confidentiality obligation, and more.
Therefore, this section will outline the most common reasons for creating the NDA:
NDA Uses and Scopes
Protection of business information: The parties can define what information is considered business and trade secrets and establish an obligation for the parties signing the document not to share it with third parties.
Protection of information during research collaborations: The research organizations also often use the NDA to protect sensitive information during the research process.
Protection of intellectual property: Parties can use the NDA to protect the software, creative work, inventions, or other types of intellectual property other parties have access to during the interaction with the party issuing the NDA.
Protection of customer information: The parties that must share certain sensitive information with the parties processing it can issue the NDA to secure the shared information.
North Dakota Non-Disclosure Agreement FAQ
Yes, the NDA is a legally binding document in North Dakota. It becomes legally binding once all the parties taking on the obligation of confidentiality sign it.
No, the NDA doesn’t need to be signed in front of a witness in North Dakota. If the parties want to provide an additional level of authentication for the document, they should consider signing the NDA in front of at least one witness.
You can always decline to sign the NDA in North Dakota. However, before declining to sign, you should keep in mind that this action might jeopardize the relationship between you and the party issuing the NDA.