This is an extensive form for execution by employees, where the employee agrees to keep various information used by the company confidential. The employee also agrees that various inventions and ideas developed by the employee related to the business of the company are deemed owned by the company. Such an agreement is especially important for technology companies.
It is a common practice for employers to require employees involved in research and development or other technical work to sign agreements assigning in advance to the employer their ownership interest in any inventions they create while employed.
The North Carolina Confidential Information and Invention Assignment is a legally binding agreement designed to protect the intellectual property rights of employers and maintain the confidentiality of sensitive information. This agreement is commonly referred to as a "confidentiality and invention assignment agreement" or "proprietary information agreement." Keywords: North Carolina, Confidential Information and Invention Assignment, intellectual property rights, employers, confidentiality, sensitive information, legally binding, proprietary information agreement. There are different types of North Carolina Confidential Information and Invention Assignment agreements depending on the specific needs of the employer. These agreements typically cover the following aspects: 1. Confidential Information Protection: This provision ensures the protection of confidential and proprietary information, trade secrets, customer lists, business strategies, financial data, manufacturing processes, non-public databases, and other similar sensitive information. The agreement prohibits employees from sharing or using this information for their personal gain or for the benefit of competitors. 2. Non-Disclosure: This clause imposes a strict duty on employees to maintain the confidentiality of the employer's information during and even after their employment period. It outlines the consequences of breaching this duty, which may include monetary damages, termination, and even legal action. 3. Invention Assignment: This provision states that any invention, discovery, improvement, or creation made by the employee within the scope of their employment is the property of the employer. It assigns the rights and ownership of these inventions to the company, ensuring that they have full control over the intellectual property created by their employees. 4. Notification Requirement: Employees are usually required to promptly disclose any inventions or discoveries made during their employment that may be protected by patent, copyright, trademark, or any other form of intellectual property protection. This provision ensures that the employer is aware of such developments and can take the necessary steps to protect their interests. 5. Governing Law and Jurisdiction: This section specifies that the agreement is governed by North Carolina state law and any disputes arising from it should be resolved in a specific jurisdiction within the state. Other variations or additional provisions may be included in the North Carolina Confidential Information and Invention Assignment, depending on the nature of the employer's business and their specific needs. It is important for both employers and employees to carefully review and understand the terms of the agreement before signing it to ensure compliance and protect their rights and interests.
