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Proprietary Information Agreement


What is a Proprietary Information Agreement?

Proprietary information agreements are contracts between an employer and an employee, or between a company and an independent contractor, which

1. define proprietary information (for example, trade secrets, customer lists, business plans, patents,  copyrights, and related types of intellectual property), and

2. protect the owner of such information from its unauthorized use, distribution, or theft.

What is a Proprietary Information Agreement?

If someone has invested time, energy, and capital in developing valuable intangible assets, they donít want anyone taking it, period.  So these contracts are prepared to protect the owners of this type of intangible asset and they contain serious civil remedies against its unauthorized use, distribution, or theft.  The content and scope of these contracts are always dictated by the owner of the proprietary information or intellectual property.  However, sophisticated non-owners who themselves own proprietary information or intellectual property should be able to carefully negotiate the definition of proprietary information and intellectual property, as well as ownership of proprietary information and intellectual property created during the term of the agreement.

I assist employers and employees, as well as companies and independent contractors, in the negotiation and preparation of proprietary information agreements.
 

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