An Arizona non-disclosure agreement is a legal instrument through which parties agree to share proprietary information with one another while maintaining its confidentiality. An NDA is often required when companies need to hand over trade secrets to employees, clients, investors, and consultants but must ensure it is safeguarded.
The document covers the definition of confidential information, the obligations to maintain confidentiality, the timeframe of the contract, and how the violated party may seek relief should disclosure occur. If one party intends on sharing information with the other, it will be a unilateral non-disclosure agreement; when information from both sides is shared, it is a mutual agreement.
- Statutes: §§ 44-401 to 44-407
- Definitions: § 44-401
- Statute of Limitation (§ 44-406): Three (3) Years