Do You Need a “Coronavirus Addendum” to Your Non-Disclosure and Non-Solicitation Agreements?
The current pandemic has created a new virtual world of meetings and access to confidential, proprietary information by the participants in a Zoom or other virtual meeting. Unless each participant signs a Non-Disclosure Agreement (“NDA”), your trade secrets and intellectual property may be compromised and subject to inadvertent disclosure or intentional theft.
The participants in your company meetings may have already signed a standard confidentiality agreement or other form of NDA, but that document may not protect you and your business from the unique circumstances of a virtual meeting. With participants joining from their homes or vacation spots, your company’s trade secrets could be disclosed to anyone in the room where the participants are sitting.
In addition to trade secrets, the identities of your company’s key personnel, customers and clients may be disclosed in a virtual meeting, exposing you to the risk of solicitation by your competitors.
For those reasons, it is recommended that all virtual meeting participants sign in advance a separate NDA / Non-Solicitation Agreement, or Addendum to their existing NDA. A sample of such form Addendum is attached to this article.
Marks Gray has enjoyed a long history of working with business owners and we are open and available to assist clients who understand the importance of protecting their proprietary trade secrets, intellectual property, clients and employees.Share