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Confidentiality Agreements Protect Your Business
If you're a business operator, confidentiality agreements can protect your valuable business assets. Guest contributor Andrew Thompson explains when and how to use these essential legal documents.
A Confidentiality Agreement is created when a user ("Recipient") agrees to preserve confidentiality relating to proprietary information ( "Confidential Information") obtained from the owner of the Confidential Information.
There are many situations in which a Confidentiality Agreement may be useful. Think of an arrangement between a small, but growing manufacturing company, and a marketing or IT firm. The manufacturer is likely to have formulas, processes and other information it would like to share only with the companies it establishes relationships with to help grow its business further. Often the information relating to these processes and formulas is among the company's most valuable assets.
A Confidentiality Agreement should make clear the relationship the parties have with each other. It should do this by identifying the line of business each party is engaged in and the purposes for which they have established their relationship.
The agreement should carefully identify the information that is expected to be held in confidence and the uses for which the recipient is permitted to use the information. It should be bounded in time and space as well as in purpose.
The agreement should typically make it clear that the recipient is being granted a limited license to use the information and that is the extent of the agreement. It's a good idea to place limits around which employees of the recipient who may access or use the information as well.
The information owner may wish to provide for remedies in the event of a breach of confidentiality, including money damages, injunctive protection, attorneys' fees and appropriate indemnifications.
Like nearly every agreement, a Confidentiality Agreement should be executed (signed) by all parties. The effective date will either be the date of execution or the date specified in the agreement itself.
Some Benefits Extended to Domestic Partners of Federal Employees
On Wednesday, President Obama signed a memorandum that extended certain benefits to domestic partners of federal employees. Since this is a small "first step" according to the Obama Administration, what can same sex couples in domestic partnerships do today to get more legal protection?
Now RocketLawyer.com, in partnership with LegalOut, is doing something to help. Same sex couples can now create an easy Domestic Partnership Agreement online. The document provides couples with a legal way to define the terms of their committed relationship, including how the couple will divide their income, whether property will be shared or separately owned, and even how the partnership will be dissolved in the event that the couple separates in the future. All committed LGBT couples should complete a Domestic Partnership Agreement to protect themselves and their families.
New Bankruptcy Center Helps Provide Second Chances
While the thought of bankruptcy can be traumatic for a person or a business, part of the strength of the American economy is our bankruptcy system that gives everyone an opportunity for a clean start and another chance at financial success. Bankruptcy rates have been soaring lately. In fact, according to the Administrative Office of the U.S. Courts, bankruptcy filings for the 12-month period ending March 31, 2009 increased by 33.3 percent from the previous 12-month period.
Now, more than ever, people need affordable (or free) bankruptcy information and tools. Fortunately, RocketLawyer.com now offers a Bankruptcy Center with lots of free information and tools to help people learn more about the bankruptcy process, get organized for bankruptcy filing, and to find a bankruptcy lawyer. Whether you are considering Chapter 7 or Chapter 11, personal bankruptcy, business bankruptcy or reorganization, the Rocket Lawyer Bankruptcy Center is a good place to start to put yourself or your business back on track.
There are many bankruptcy attorneys on RocketLawyer.com who can help with your bankruptcy questions. Brett Sullivan (pictured above) is an attorney who specializes in bankruptcy and debtor / creditor issues.
# posted by Jenny Greenhough : 11:45 AM
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Transfer Property with a Quitclaim Deed
Gina Dashman Boer (pictured left) is one of many real estate lawyers listed on RocketLawyer.com who can answer your legal questions about property.
A Quitclaim Deed is a type of real estate legal document which allows one person or party to transfer their property rights to another person or an entity (like a trust, for example). Often used between family members, in divorce situations, or to gift property to someone else, the Quitclaim Deed is the easiest way to transfer property rights.
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