This form is a Trade Secret Acknowledgment and Termination Agreement signed by an exiting employee to note what particular confidential, proprietary, or other sensitive trade secret information he may have had access to or acquired knowledge of. The agreement also acknowledges that the employee understands his ongoing obligations in regards to this protected information.
Florida Trade Secret Acknowledgment and Termination Agreement
State:
Multi-State
Control #:
US-TS9046B
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Trade Secret Acknowledgment And Termination Agreement?
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FAQ
Stat. § 90.506. A person has a privilege to refuse to disclose, and to prevent other persons from disclosing, a trade secret owned by that person if the allowance of the privilege will not conceal fraud or otherwise work injustice.
In Florida, a trade secret is defined as information, including a formula, pattern, compilation, program, device, method, technique, or process that (1) derives independent economic value from not being generally known to and not readily ascertainable by others who can obtain economic value from its disclosure or use ...
Nonetheless, an NDA may provide broader protection than trade secret laws because it can cover proprietary and non-public information that does not meet the definition of a trade secret. "Trade secrets are defined by statute, but terms such as confidential and proprietary information are defined by the contract.
The Florida Uniform Trade Secrets Act (FUTSA) provides multiple ways that a victim of trade secret misappropriation may use in calculating its damages. Damages for a FUTSA violation ?can include both the actual loss caused by misappropriation and the unjust enrichment caused by misappropriation.? Advantor Sys.
Prospective Franchise Owner acknowledges and agrees the Confidential Information is a valuable trade secret of the Company and that any disclosure or unauthorized use thereof will cause irreparable harm and loss to the Company.
What kind of information is protected by trade secrets? In general, any confidential business information which provides an enterprise a competitive edge and is unknown to others may be protected as a trade secret.
"Trade secret" means any method, technique, process, formula, program, design, or other information that can be used in the course of production, sales, or operations that can also meet the following three requirements: (1) it is not known to persons generally involved in the information of this type; (2) it has actual ...
Proving that You Actually Had a Trade Secret The information was secret; The information had actual or potential independent economic value because it was secret; and. The plaintiff made reasonable efforts to keep the information secret.
