If you are concerned with protecting your intellectual property from being shared or distributed to the general public, competitors, or anyone not directly employed, contracted, or working with your company or patent, The Patent Professor strongly recommends that you create a confidentiality agreement. This document, otherwise known as a non-disclosure agreement, is a legal device that outlines all information that is not allowed to be disclosed. In creating this document, you can protect your intellectual property while working on a new product release, developing strategies to markets, or detailing business plans, while offering your employees a clear set of guidelines about what they can discuss and not discuss. Read more about confidentiality agreements, and how The Patent Professor can help you draft an agreement that addresses all of your sensitive needs as they directly relate to your business operations.

Do I Need a Confidentiality Agreement?

If you are working with anything surrounding patents, inventions, or sensitive information that would be detrimental if it were disclosed to anyone outside of your company, then you likely need a confidentiality agreement, otherwise referred to as a non-disclosure agreement (NDA). Here are a few reasons you might want to consider using a confidentiality report with your contractors, employees, or consultants:

You Are Developing a New Product

When you are developing a new product, you may not have it to a complete stage where you can patent the entirety of the invention yet. In that case, your company is at a vulnerable state where you may lose your intellectual property to a competitor who simply gets the product to market faster, or is able to claim prior art if they had developed something similar from the information that was disclosed by your project. In this case, you will want to consider a confidentiality agreement with everyone involved with the project to keep it under wraps.

You Are Developing a New Business Strategy

In many cases, companies will develop new business strategies to align with new product releases or new market penetration. Whatever the reason for the business development strategy, it is extremely helpful when you know that the competition is not expecting this change right from the start. When you are working with employees, consultants, or contractors to develop this strategy, it is important that you are able to move forward with confidence that you will not have your information leaked because you did not clearly protect against that.

You Are Dealing With Patent Applications

When you are working on a patent application for a new idea or set of intellectual properties, it is essential that you keep all of this information private to avoid any replicants beating you to it. When you are developing a complicated invention, you will likely need many people involved in the project, and therefore many people will know your private information and all of the ups and downs of the development. You want to be sure that you can have full confidence in the people you are working with, and can share all relevant information with them without worrying about losing your market advantage because of information leaks.

Does The Patent Professor Help With Confidentiality Agreements?

If you are working on bringing an invention through the patent application process, developing new strategies around an existing patent, or simply concerned about the safety of your intellectual property as you bring new people into your operation, we highly recommend that you create a confidentiality agreement to sign with all involved parties. We will use our extensive knowledge of patent law to assist you through this process, and will develop an agreement that addresses all potential issues as they relate to disclosures or possible leaks. We will work to develop special agreements for every tier of involvement, and be certain that all relevant information is covered in each agreement you give to employees and contractors.