Arkansas Non-Disclosure Agreement
The Arkansas Non-Disclosure Agreement, also called a “Confidentiality Agreement,” is a contract used to keep a company’s trade secret from landing in the wrong hands. It is used when an individual will be learning a secret that is considered valuable to the company, such as a recipe or business plan. The individual or company learning the secret (the “Receiving Party”) can be sued by the company sharing the information (the “Disclosing Party”) or faced with injunctive relief issued in court if the secret is disclosed. Below is information regarding Arkansas’ Trade Secret Law and a how-to for completing the NDA.
Trade Secret Law
Arkansas’ interpretation of the Federal Uniform Trade Secret Act differs slightly than the general law published in 1979; a brief outline of Arkansas’ Theft of Trade Secrets Subchapter is below:
- A.C.A. § 4-75-601 The definitions for commonly used words in Subchapter 6 (Theft of Trade Secrets)
- A.C.A. § 4-75-602 How Subchapter 6 affects other laws
- A.C.A. § 4-75-603 States the timeframe for bringing a case of misappropriation in Arkansas (3 years)
- A.C.A. § 4-75-604 The situations in which Injunctive Relief will/can be ordered by the court
- A.C.A. § 4-75-605 Conveys the steps that the court will take to ensure trade secrets are preserved
- A.C.A. § 4-75-606 The damages caused by misappropriation that the complainant can recover
- A.C.A. § 4-75-607 When the court will cover the winning party’s attorney fees
How to Write in PDF & Word
Step 2 – At the top of the form, enter the Date (enter the full year 20xx) the contract will be in effect.
Step 3 – Directly after entering the date, write the name and full address of the individual or company sharing the secret(s). This is also called the “Disclosing Party.” On the next line, enter the full name and address of the individual or company learning the secret(s).
Step 4 – After both parties have diligently read through the entire document and approve of the terms laid out, have both the Disclosing and Receiving parties write their full printed names, their titles within their respective companies (if applicable), the dates they completed the form, and their signatures. Once both signatures are recorded, the contract will be in effect.