This form is a Trade Secret Acknowledgment and Termination Agreement signed by an exiting employee to note what particular confidential, proprietary, or other sensitive trade secret information he may have had access to or acquired knowledge of. The agreement also acknowledges that the employee understands his ongoing obligations in regards to this protected information.
Connecticut Trade Secret Acknowledgment and Termination Agreement
State:
Multi-State
Control #:
US-TS9046B
Format:
Word;
PDF;
Rich Text
Instant download
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How to fill out Trade Secret Acknowledgment And Termination Agreement?
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FAQ
The Connecticut Unfair Trade Practices Act (CUTPA) prohibits unfair competition and unfair and deceptive acts. Initially adopted in 1973, CUTPA has been modified by the state legislature. The Department of Consumer Protection (DCP) has jurisdiction over CUPTA, but it is most commonly used as a private right of action.
"Trade secret" means any method, technique, process, formula, program, design, or other information that can be used in the course of production, sales, or operations that can also meet the following three requirements: (1) it is not known to persons generally involved in the information of this type; (2) it has actual ...
Trade secrets are widely used by business. In fact, many companies rely heavily on trade secrets for the protection of their intellectual property (although in many cases, they may not even be aware that trade secrets are legally protected). Known examples are the Coca Cola formula and sources codes for software.
Prospective Franchise Owner acknowledges and agrees the Confidential Information is a valuable trade secret of the Company and that any disclosure or unauthorized use thereof will cause irreparable harm and loss to the Company.
Many businesses thus obtain non-disclosure agreements from those who are given access to a trade secret. But while entering non-disclosure agreements may be a best practice, it is not necessarily required. No one particular security measure is necessary to maintain trade-secret protection.
Examples of trade secrets can include engineering information; methods, processes, and know-how; tolerances and formulas; business and financial information; computer programs (particularly source code) and related information; pending, unpublished patent applications; business plans; budgets; methods of calculating ...
Trade secrets encompass both technical information, such as information concerning manufacturing processes, pharmaceutical test data, designs and drawings of computer programs, and commercial information, such as distribution methods, list of suppliers and clients, and advertising strategies.
