Trade Secrets Agreements
Employment contracts frequently contain provisions for the protection of the employer’s “trade secrets”. These may range from customer data of one kind or another, to company designs, or even “secret recipes”. Typically, the Trade Secrets clause of an employment contract will provide for “liquidated” damages in the event of disclosure of the information. Liquidated damages are a set dollar figure agreed-upon in advance, to be paid in the event the contract clause is violated.
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