This form is a Employee Confidentiality and Invention Assignment Agreement for use with employee inventors exposed to commercial trade secrets or other confidential information as part of their job.
Puerto Rico Employee Confidentiality and Invention Assignment Agreement, commonly known as the Employee Agreement, is a legally binding contract between an employer and an employee in Puerto Rico that outlines the terms and conditions regarding confidentiality, non-disclosure of sensitive information, and ownership of intellectual property. This agreement is designed to protect proprietary information, trade secrets, and intellectual property rights of the employer, ensuring that employees do not disclose or misuse confidential and sensitive data during and after their employment. It establishes the obligations, responsibilities, and restrictions that employees must adhere to in regard to protecting the employer's confidential information. Some key elements covered in the Puerto Rico Employee Confidentiality and Invention Assignment Agreement include: 1. Confidentiality Obligations: This clause specifies that the employee agrees to keep all confidential information acquired during their employment confidential, both during and after their tenure. It outlines the scope of such information and sets clear limitations on disclosure to third parties. 2. Non-disclosure Agreement (NDA): The agreement contains a comprehensive NDA clause, which prohibits employees from sharing or using trade secrets, customer lists, financial data, marketing strategies, or any other confidential information without prior written consent. 3. Intellectual Property Ownership: This section clarifies that any work, invention, creation, or innovation developed by the employee during their employment is the sole property of the employer. It also ensures that any pre-existing intellectual property, which the employee brings to the workplace, remains their property but grants the employer a license to use it for business purposes. 4. Invention Assignment: This provision mandates the disclosure of any inventions or discoveries made by an employee during their employment. It generally states that all such inventions automatically become the property of the employer, and the employee waives any claims or rights to those inventions. 5. Return of Company Property: This clause specifies that upon termination, employees must return all company property, including documents, files, electronic devices, and any other materials containing confidential information. 6. Remedies and Consequences: The agreement includes provisions for potential legal action, damages, and injunctions in case of breach or violation of the agreement by either party. It's important to note that there may be different variations or specific types of Puerto Rico Employee Confidentiality and Invention Assignment Agreements, tailored to various industries or job roles. However, the main objective remains consistent across all versions — safeguarding the employer's confidential information and intellectual property rights while maintaining the employee's obligations of confidentiality. By signing this agreement, both employer and employee acknowledge their commitment to protect confidential information, trade secrets, and other sensitive data during and after the employment relationship.
