Nondisclosure/Noncompete Agreements

Nondisclosure/Noncompete Agreements thumbnail
Many entities want to protect their property, including privileged information.

Nondisclosure and noncompete agreements are tools used by businesses and other entities. Such agreements can cover a wide variety of terms, conditions and information.

  1. Nondisclosure Agreement

    • A nondisclosure or confidentially agreement is a contract between two or more parties used to protect information, such as intellectual property or trade secrets.

    Noncompete Agreement

    • A noncompete agreement is a condition of employment stating that an employee cannot work in a business similar or related to the one in which he is currently employed. The agreement is for a specific period of time and typically for a designated area.

    Significance

    • Both agreements are typically used to protect the interests of a business. The agreements deter the intentional or accidental transmission of privy information. The legal ramifications for breaking such agreements range from seeking damages and extolling penalties to protecting patent rights.

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