Accordingly, in addition to all other legal or fair remedies that may be in the disclosure, the disclosure party will generally request an omission or other fair exemption against the recipient party in order to avoid a further breach of the receiving party`s obligations. If a person discloses confidential information entrusted to him, he may be sued by the owner for losses caused by the revelation. It is called a breach of trust action, and you claim for things like loss of profit, damage to reputation, etc. But it`s not really very useful – if your secret recipe has been leaked, it`s out there forever, and no amount of monetary policy compensation will cancel. A confidentiality agreement is often used in the business environment to protect the secrecy of confidential information provided or disclosed to another party during business. The confidentiality agreement is also commonly referred to as the “confidentiality agreement” or simply “NDA.” The confidentiality agreement can sometimes be a confidentiality clause contained in another contract such as the employment contract, service contract, etc. (6) How the information is returned or destroyed after termination – you may need to have the information returned as soon as the contract has been terminated or destroyed, in order to better protect your business in the long term. It should be self-evident that confidential information must remain confidential. It cannot be said that the information is confidential if he or she has passed the information unnecessarily to many parties. If disclosure is required, disclosure must be limited to a small number of parties, yet a confidentiality agreement (NDA) or confidentiality agreement should be reached. Since disclosure and receipt of oral information will be difficult to prove, it is common practice for all disclosed oral information to be reduced in writing by the party confirming confidentiality, within an agreed period of days after oral disclosure, so that it is considered confidential. Before you get confused, be aware that this is different from “confidential information” in the sense of “official secrets” held by government officials covered by our Official Secrets Act.
Other points include the TeaLive case between Loob Holdings and La Kaffa, where Loob Holdings broke the franchise agreement and continues to use La Kaffa`s confidential information as its own – for more information, see our related article below. However, it is important to remember that once the information has been disclosed to the public, it is already there and can no longer be disclosed. Although the owner is able to obtain immediate gain in court and obtain damages in the event of a breach of trust, information that should be confidential indefinitely is no longer confidential. Third parties, including competitors, can use the confidential information to their advantage and the owner cannot pursue it, as the information is already publicly available. Confidential information: any information disclosed by the party receiving it before or after the date of this agreement, which the disclosed party qualifies as confidential or which must remain confidential in the circumstances of disclosure and which includes, but does not limit, trade secrets, discoveries, ideas, concepts, know-how, techniques; Projects, specifications, drawings, diagrams, data, computer programs, business activities and operations, contracts, financial information (including projections), documents, resolutions, client lists, reports, studies and other technical and commercial information in paper, oral, digital, magnetic, photographic and/or any other format, including any information and/or other information that may be proven and made available orally or otherwise and which both parties may reasonably consider confidential, whether explicitly or implicitly considered confidential or confidential.