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Can you elaborate more on the expiration? The only NDAs I've seen don't apply after the data/process/methodology/trade secret is made public. They don't have so
by caw 14y ago
Can you elaborate more on the expiration? The only NDAs I've seen don't apply after the data/process/methodology/trade secret is made public. They don't have something like 1 year after termination. For many companies, this information will never be made public, and this would of course be an non-expiring NDA.
So what expiration should an NDA have?
- dctoedt 14y agoConcerning expiration [1], many NDAs distinguish between "trade secrets" and "confidential business information": * Basically, a trade secret is non-public information that is the subject of reasonable efforts to keep it confidential, AND that is shown to provide an economic advantage to those possessing it versus those not possessing it [2]. * NDAs often say that trade secrets don't lose their protection until they're no longer secret [3], typically as defined by the "frequent five" exclusions [4]. * NDAS might also say that other confidential information (for example, pricing) loses its protection in X years [1], where 1 < X < 5. * Keep in mind that some types of information must be kept confidential by law, such as protected health information, without regard to an NDA. [1] http://www.techlawnotes.com/confidential-information/#outline-container-3-5 http://www.techlawnotes.com/confidential-information/#outlin... [2] http://www.techlawnotes.com/confidential-information/#outline-container-1-2-1 http://www.techlawnotes.com/confidential-information/#outlin... [3] http://www.techlawnotes.com/confidential-information/#outline-container-3-6 http://www.techlawnotes.com/confidential-information/#outlin... [4] http://www.techlawnotes.com/confidential-information/#sec-1-9 http://www.techlawnotes.com/confidential-information/#sec-1-...