Confidentiality agreements have five different characteristics: trade secrets are an important aspect of any business. These secrets may contain all information that has economic value to the company and is not available to the public. Each company must take the necessary precautions to prevent trade secrets from being disclosed to unauthorized persons, as they are an important factor in the company`s success. These secrets may include formulas, sales plans, methods, programs, customer data, product specifications, market and pricing strategies, techniques, among others. Failure to list certain categories of information may lead the Tribunal to view the agreement as too broad and therefore unenforceable. If trade secrets have been misappropriated, the company may offer an injunction or injunction; Therefore, if the party has benefited from the embezzlement of trade secrets, it may be forced to pay for the damages suffered by the company. Examples of Coca-Cola`s confidentiality, non-competition and non-advertising agreement, which contains two distinct definitions of what is considered “confidential information” and what is classified as “business secret”: you only have to disclose secrets at the time of filing your patent application, but not while the patent is in effect. Once your patent application has been approved, you can develop other proprietary objects based on your invention without disclosing them, and you can keep them as trade secrets. Even if trade secrets must be protected from flight, staff and staff may be in possession of trade secrets, as they may need the information they need to help them with their daily tasks. In order to prevent the recipient from passing confidential information to another person, the best option for the company is to ensure that its business secrets are secure, the conclusion of a confidentiality agreement (NDA).
The business can also be considered; keep all materials in a safe place, limit all important personnel information that only needs to know, and, finally, ensure that all sensitive information is clearly identified as confidential. Companies like Coca-Cola and KFC are trying to protect their secrets. KFC operates in the same way in disguise and only a handful of employees know its secret recipe for “11 herbs and spices” and all of these employees are said to have signed confidentiality promises. All confidentiality agreements contain in detail all types or categories of confidential information that must be protected in the agreement. The goal is to set the limits of revelation without revealing secrets. For example, an NDA may say, “Confidential information includes recipes, marketing strategies, cookbooks and all processes.” An example of such a clause can be found in Thoughtbot`s reciprocity agreement: to protect these secrets, there are several common methods used by companies to protect these secrets. These include the use of a patent, a non-competing agreement, a non-invitation agreement and a confidentiality agreement (NDA). Parties who receive information may be excluded because the information received remains confidential if the party receiving the information has received the information before signing an agreement with the publishing party.
However, this should not apply when it comes to trade secrets. As we already know, trade secrets can last forever if certain qualifications are fulfilled, including appropriate measures to protect business secrecy.