Technology Non Disclosure Agreements

The theft of trade secrets is a major problem in both the United States and Europe. In the United States, most states have already passed the Uniform Trade Secrets Act, which defines trade secrets and state remedies for the theft of such trade secrets. In 2016, the United States went further with the Defend Trade Secrets Act, which also protects trade secrets under federal law. In Europe, a 2013 study showed that more than 20% of companies in the European Union, including many technology companies, have experienced such theft. In 2016, the European Commission proposed new rules to improve eu-wide fairness and consistency in access to court proceedings for the theft of trade secrets. These rules were approved by the European Council in May 2016. That is why the United States and Europe are currently under major initiative to protect trade secrets and further punish infringements. Confidentiality agreements can be unilateral, bilateral and multilateral if three or more parties are involved. They can be simple as long as they cover key elements for applicability. The most important information that should include a confidentiality agreement is: Your relationship with the receiving party is usually defined by the agreement you sign. For example, an employment, licensing or investment agreement.

For a stranger, it may seem like you have a different relationship, for example. B a partnership or joint venture. It is possible that an unscrupulous company will try to take advantage of this appearance and make a third-party deal. In other words, the receiving party can claim to be your partner to gain an advantage from a distributor or a sub-licensed. In order to avoid liability for such a situation, most agreements contain a provision such as this, which excludes any provision other than that defined in the agreement. We recommend that you include such a provision and ensure that it is adapted to the agreement. If you use it z.B in an employment contract, remove the reference to employees. If you use it in a partnership agreement, you insert the reference to partners, etc. It goes without saying that the client is prepared to protect his interests in preventing the illegal disclosure of his business secrets and confidential information that could harm the client and related persons. Each confidentiality agreement defines its trade secrets, often referred to as „confidential information.“ This definition defines the purpose of the revelation.

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