Protecting Confidential Information With Non-Disclosure Agreements
Confidential information related to a product or process allows companies to maintain a competitive advantage. Companies can use non-disclosure agreements to protect intellectual property assets and minimize risk when sharing proprietary information with employees and other entities during the scope of business. With decades of intellectual property and commercial litigation experience, the attorneys at Coats & Bennett, PLLC, are well-equipped to draft, negotiate and enforce ironclad non-disclosure agreements.
A non-disclosure agreement is a contract between two or more parties that prevents the parties from disclosing proprietary company information to a third party. An agreement should define the information to be protected, the obligations of the signing parties, the duration and any exceptions. After signing an agreement, a party cannot profit from or disclose the information supplied, such as a trade secret, without facing legal consequences. Violation of a confidentiality agreement could entitle a business to monetary damages, injunctive relief or a combination of both.
To be effective, a business should use non-disclosure agreements as part of a cohesive intellectual property protection strategy. The parties signing the confidentiality agreement must receive something in return, often employment or the completion of a business transaction. An agreement based on unequal bargaining power or one that is overly limiting or vague makes enforcement potentially more uncertain.
Contact Our Firm To Arrange A Consultation
Whether you are looking to defend your intellectual property or seek damages for infringement, the commercial dispute litigators at Coats & Bennett, PLLC, can provide skilled assistance. From our offices in Cary, we serve businesses and individuals throughout North Carolina and around the globe. Schedule a consultation by calling 800-575-1278 or reach the firm online.