A company’s need to protect its intellectual property should be treated as a top priority. After all, a company’s copyrights, service marks and trademarks are oftentimes the lifeblood of the business. So, which agreements can help companies in Florida protect their intellectual property?
Well, for starters, there are confidentiality agreements. These agreements, when properly drafted and executed, can allow employees or third-parties to have access to certain privileged information within the company, which could be considered “trade secrets,” as long as the employee or third-party agrees that the information will not be disclosed to other parties. If an employee or third-party breaches a confidentiality agreement, the company will likely have strong legal options, as detailed in the agreement.
Next, a company can ask employees to execute non-competition agreements. These agreements recognize that an employee with a certain company may learn valuable information and skills that could be carried over to another company – a competitor – if the employee decides to leave. With a non-competition agreement, employees agree that, if they leave the company, they either will not engage in similar work for a period of time or will not do so in a certain geographic area.
Lastly, licensing agreements can be useful for companies in Florida who want to protect their intellectual property rights, but that also want to use that intellectual property to earn a profit. A licensing agreement will allow another entity to use intellectual property, contingent on certain conditions. As long as the conditions are met, both sides can profit from the use of the intellectual property in question.