There is a lot more that goes into building a thriving business than many people realize. Trade secrets and other forms of intellectual property are often the foundation upon which a successful business sits. Keeping that intellectual property secret is key to continued growth. In Louisiana, nondisclosure agreements are one of the most effective ways to keep that essential information away from the public and other businesses.
Employees and even partners are frequently asked to sign nondisclosure agreements. A typical nondisclosure agreement will address what information must be kept confidential, the length of the agreement and several other specifics. Agreements must also be reasonable, meaning that they may not be vague, too broad or impose significant burdens on those that sign them. Otherwise they may not be enforceable, even if willingly signed.
Nondisclosure agreements are most commonly used to protect a number of different things. Intellectual property that is integral to a business’ success is one of the most common. However, so are trade secrets, laboratory results and even knowledge of potentially embarrassing information. Embarrassing information might include things such as sexual consensual affairs, but should not address illegal subject matter.
Learning that someone has breached an agreement can be distressing. Although there is nothing that can undo damages caused by such breaches, Louisiana business owners and employers do have options for legal recourse. Nondisclosure agreements can be tricky though, especially amid claims that they were never enforceable. Seeking knowledgeable and experienced guidance may be extremely helpful in such situations.