Non-Disclosure & Non-Compete Agreements and Securing Confidential Information and Trade Secrets.
Trade secret information is a subset of confidential information. All information that qualifies for trade secret protection is confidential information. But not all “confidential information” is a trade secret. Business owners need to protect their business by securing all confidential information and ensuring all employees abide by the policies and procedures in place to protect it. A company seeking to enforce its rights to protect its own confidential and trade secret information will most certainly want to have a carefully drafted confidentiality/NDA agreement.
It will also want to evaluate how other employment-related agreements — such as arbitration agreements — might impact the company’s options in enforcing the NDA, or in initiating an action against a former employee and his or her new employer. Ideally, an employer will have written agreements with its employees that are well crafted and likely to be upheld and enforced and still afford the employer the greatest degree of flexibility in the event that the employer needs to initiate action against a former employee and a third party.