A Non-Disclosure Agreement can be included in a general Restrictive Covenant Agreement or can be its own separate agreement. Again, they are most often used in an employment situation but can be used with an Independent Contract or if your business is considering working with another business on a joint project or even if you are hiring a vendor that needs access to certain information in order to provide a service to you. There are many items that can be protected in a Non-Disclosure Agreement, including customer lists, confidential information or trade secrets. Unlike Non-Compete Agreements, Non-Disclosure Agreements are less likely to have a geographical or time limit.
Trade Secrets
The individual trade secrets of a company are what differentiates one company from their competitors. Non-Disclosure Agreements generally restricts a person or entity from sharing these secrets with a competitor or the public. Particular attention must be given to what exactly is considered a trade secret and what information can or cannot be shared. It is important to specifically address this in the agreement so that your company is fully protected under the law.
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