But note that some companies want a fixed period and that some courts, in interpreting NDSAs, require that the period be appropriate. The determination of “relevance” is subjective and depends on confidential material and the nature of the sector. For example, some trade secrets may be ephemeral in the software or internet sector. Other trade secrets. For example, the Coca-Cola formula has been kept a secret for more than a century. For example, if it is likely that others will stumble over the same secret or innovation, or that it will be towed within a few years, it is unlikely that you will be damaged by a period of two or three years. Remember that after the period ends, the disclosure company may reveal your secrets. NDA Job Interview – You`ll end up revealing trade secrets if you interview potential employees, especially for sensitive jobs. Anyone you hire should be required to sign an NDA (or employment contract containing a confidentiality provision). But of course, interviewees you don`t hire won`t sign an employment NDA or employment contract. For this reason, have candidates for sensitive positions sign a simple confidentiality agreement at the beginning of a job interview. In the model NDA agreement, the “disclosing party” is the person who discloses secrets, and the “receiving party” is the person or company that receives the confidential information and is required to keep it secret. The terms are highlighted to indicate that they are defined in the agreement.
The model agreement is a “unilateral” (or, in the legal case, “unilateral”) agreement – that is, only one party reveals secrets. In practice, this means that there is no legislation to seek guidelines on this subject and that confidentiality agreements are interpreted in accordance with the customary law in force in the province or territory defined in the agreement. Your relationship with the receiving party is usually defined by the agreement you sign. For example, an employment, licensing or investment agreement. To a stranger, it may seem like you have a different relationship, for example. B a partnership or joint venture. It is possible that an unscrupulous company will try to take advantage of this appearance and enter into a third-party agreement. In other words, the receiving party can claim to be your partner to get an advantage from a reseller or sublicensee.