From the course: Understanding Confidentiality and Nondisclosure Agreements
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Understanding confidentiality agreements: Term and termination
From the course: Understanding Confidentiality and Nondisclosure Agreements
Understanding confidentiality agreements: Term and termination
- Although the term and termination provisions of a contract are very important, they're often buried within the miscellaneous provisions as if they're not important at all. Evaluate the term and termination provisions in every confidentiality agreement you sign. The word term defines how long the agreement will last. The term has two meanings. First, the term could tell us how long the parties expect to share information, including trade secrets. In this respect, most NDAs have a fairly short term. In some cases, a contractor or vendor might be in a position of having an ongoing exposure to trade secrets and therefore the term could be longer or even indefinite and not end until terminated. The second thing term should tell us is how long the recipient is obligated to keep the trade secrets confidential. I'm going to pause here because this is probably the most important thing you'll learn in this course. Confidentiality…
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