The Arkansas non-disclosure agreement, compliant with, Title 4 (Business And Commercial Law), supplies an opportunity for its signature parties to define confidential information and protect confidential information that may or will be exchanged during a business or professional relationship. This is a common and useful practice that many employers utilize with their new hires. For instance, a pharmaceutical company would not want one of its employees to freely discuss its trade secrets with other entities or even the competition. Similarly, the employee in this example would benefit from having a concrete definition to what is considered confidential and what is considered a violation be supplied early on.
Arkansas law takes the subject of misappropriation very seriously however it does post limits such as a 3 year statute of limitations (§ 4-75-603). This contract however does not consider such a limit and remains enforceable in a court of law for the term agreed upon by its signature entities. That is, while Arkansas will enforce its own laws, it will also enforce the term of a legally signed contract, potentially beyond this statute (of limitations). Thus, it will be important for all parties to make sure they have discussed and are fully aware of each part of this contract before signing it.