Alabama Non-Disclosure Agreement
The Alabama Non-Disclosure Agreement (NDA) is a document that legally requires an individual to keep a company’s confidential secrets to themselves. The document is frequently used in situations involving potential mergers or in any case where a company will be exposing information that can be damaging if put in the wrong hands. If a breach of contract occurs, the company can take several legal actions, with the most popular being to sue for damages.
Trade Secret Law
Knowing Alabama’s Trade Secret Law is imperative in understanding what constitutes as misappropriation and the steps that can be taken after a breach of contract.
- § 8-27-1 states that the 8-27 Chapter is in regards to the “Alabama Trade Secrets Act”
- § 8-27-2 gives the definitions for Trade Secret, Improper Means, and Person
- § 8-27-3 describes what makes an individual liable for misappropriation of a trade secret
- § 8-27-4 states what can be done by the plaintiff in the case that misappropriation did occur
- § 8-27-5 gives the statute of limitations; a case must be brought up within 2 years of being discovered
- § 8-27-6 describes how the Trade Secret Law effects other laws
How to Write
Step 2 – At the top of the document, enter the date that the contract will go into effect. Then enter the name and address of the individual or company disclosing the information, also known as the “Disclosing Party.” Directly after, enter the name and address of the individual receiving the secret information.
Step 3 – Have both parties read through the entire document, ensuring both are clear on all the sections and what they entail. Under the “DISCLOSING PARTY” title, have the individual issuing the agreement (the party sharing the confidential information) sign and print their name, write their title within the company, and date the document. Under the “RECEIVING PARTY” title, the individual whom is required to keep the secret(s) confidential will need to sign and print their name, enter their title, and enter the date in which they signed the document.