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Protecting Confidential Information as a Trade Secret

A trade secret is a type of confidential information that receives additional statutory protection according to various state, federal and local laws. A trade secret is information that: Is not generally known to the public – in other words, it is confidential information Confers some sort of economic benefit on its holder (where this benefit should […]

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Nondisclosure Obligations and Agreements

Choosing the Appropriate NDA A company’s legal team should maintain non-disclosure agreements (NDA) to be provided for use in the following situations: Two-Way NDA. Covers mutual sharing of confidential information between a company and a third party. This imposes confidentiality obligations on both parties. One-Way NDA Out. Covers only disclosure of confidential information by a company to a […]

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Employee Responsibilities

Confidential information often derives its value from its ability to be used for some purpose within a company. Employees in various parts of a company should be aware of proper handling and safeguarding of company and third party confidential information. Each employee should have the following responsibilities under a confidential information policy: During employment and […]

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Receiving Confidential Information from Third Parties

If not handled carefully, the receipt of confidential information from third parties can subject a company to unwanted competitive restrictions or liability. Accordingly, the three practices below should be taken into consideration. Company personnel should avoid receipt of the confidential information of third parties unless the receipt is covered by a Non-Disclosure Agreement (NDA), or agreement […]

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Protecting Company Confidential Information

Confidential Information plays an important role in business competitiveness and success. It is also necessary to ensure protection of company trade secrets under state or federal laws. These laws require that a company’s confidential information is subject to reasonable efforts to maintain its secrecy. Accordingly, the following practices should be considered. General safeguarding. All confidential information of […]

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Confidential Information Basics

Every employee should understand the basics of identifying and handling of company and third party confidential information. This begins when a new employee joins your company and should be periodically refreshed to accommodate new and ongoing relationships. Confidential information is generally defined as information disclosed to an individual employee or known to that employee as […]

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