When determining the confidentiality period of an NOA, consider the length of time sufficient to protect the interests of the public seller without imposing unreasonable charges on the receptive buyer. Be sure to take into account the speed of technological change in the industry. “Trade Secret” has the meaning attributed to this term in [insert the definition of the state or the definition of the uniform secrets trade law]. All protected information is protected by the recipient for a period of one (1) year from the date of publication to the recipient, in accordance with this agreement. All information relating to business secrecy is permanently protected by the recipient, as stipulated in this agreement, or as long as that information remains a trade secret under current law, regardless of the first thing that happens. Because of the inherently sensitive nature of these types of agreements, it is best not to ignore the meaning of the terms. Take the time to do business properly, but don`t linger, so the recipient party has more time than necessary to access your proprietary information and business secrets. In the following example, the concept of agreement refers to the relationship and the secrecy itself, but confidentiality survives the duration of the agreement; Therefore, the duration of confidentiality is the life of the NDA. Since trade secrets can last indefinitely, never set time limits on the shelf life of secrecy. AJ Park Law Principal Mark Hargreaves leads the AJ Park sales team. Mark assists clients in structuring and managing business operations and advises you on IP strategy.
He also works with clients who buy computer systems and software. Mark`s clients span all sectors and range from publicly traded New Zealand companies, government agencies, crown research institutes and universities to SMEs and start-ups. While others might describe him as relaxed, Mark sees himself as pragmatic and commercially focused. It considers relationship and mutual trust as essential elements of a successful long-term working relationship. Mark has been successful in working in different legal systems and in different companies and companies, and in developing great relationships with employees and clients around the world. Mark`s work history includes two years as inhouse Technology Counsel for Citigroup in London. He then worked for three years at Mallesons Stephen Jaques in Australia in the years of IT law, marketing of M-A and IP, as well as time at Simpson Grierson in Wellington, New Zealand. Mark arrived in AJ Park in 1995, before going abroad, and returned to the company in 2007. He believes that AJ Park has a unique culture and a particular focus on technology law, IP strategy and marketing. Contact Mark under [email protected] or log in via LinkedIn. But I would add that this could make things clearer for the parties and for any court if it were explicitly stated that any contractual obligation not to disclose trade secrets ceases as soon as the trade secrets in question cease to constitute trade secrets.
Of course you say the obvious, but sometimes say the obvious is to do the prudent thing. What are you saying? There are usually two types of deadlines for these agreements: indeterminate or with a time prescription. Other jurisdictions also impose limits on the timing of the application of confidentiality obligations. Thus, the Australian High Court has decided that confidentiality agreements with unlimited trust obligations are not applicable without it being clear that the trust obligations no longer apply to information that is made public.