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Previously, we discussed the Federal Trade Commission’s desire to eliminate most noncompete agreements. One common use of noncompetes is for the protection of trade secrets.
If the FTC eliminates noncompetes, a possible substitute that can help protect your trade secrets can be a non-disclosure agreement. A non-disclosure agreement requires the signer to agree not to share the trade secrets or intellectual property they acquire during their employment.
This can be especially helpful for organizations in certain industries that need to protect their proprietary information. Yet, we should realize that some former employees will struggle to keep your secrets.
Proverbs 11:13 says, “A gossip betrays a confidence, but a trustworthy person keeps a secret.”
Non-disclosure agreements can be helpful, but be prepared for those who are untrustworthy with or without an agreement.
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