What Does a Confidentiality Agreement Protect?

Elliott Stapleton Confidentiality and Nondisclosure Agreement

A confidentiality agreement can protect any type of information that is not generally known. Types of information that is not generally known include intellectual property, such as trade secrets, copyrights, trademarks and patents.

A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information by which a business can obtain an economic advantage over competitors or customers. This type of information is important to a business to protect and is the type of information that should be outlined in a confidentiality agreement.

However, these agreements may also contain clauses that will protect the person receiving the information so that if they lawfully obtained the information through other sources they would not be obligated to keep the information secret. If you are signing a nondisclosure agreement this is an important consideration.

 

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About the Author

Elliott Stapleton

Elliott is a partner in the firm of Cornetet, Meyer, Rush and Stapleton, LPA. His business clients range from small single member companies to large privately held businesses. Elliott’s legal services include advice on Business Formation and Transactions, Real Estate Transactions, Trademark Law, Copyright Law, Estate Planning, and Probate Administration.