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What Happens if an Employee Breaches a Florida Non-Disclosure Agreement?
Successful businesses often spend years, if not decades, figuring out the most effective business strategies, establishing vendor and client relationships, and creating profitable products and services. Understandably, businesses want to protect this valuable information from falling into the wrong hands. Non-disclosure agreements, or confidentiality agreements, are an important legal tool for protecting trade secrets, intellectual property, and other proprietary information. Unfortunately, non-disclosure agreement violations can happen, and confidential information may be leaked to other parties.
Violation of a Florida Non-Disclosure Agreement
Non-disclosure agreements can be valuable legal instruments for businesses that want to protect confidential information. Unfortunately, including a non-disclosure agreement in an employment contract does not always prevent violations of the agreement.
Employee breaches of contract may involve:
- Sharing trade secrets, proprietary formulas, confidential strategies, or any other secret information with another party
- Using confidential business information to create a competing business
- Showing a prototype to other parties before its official release
- Sharing secret information to a competitor for financial gain
- Publishing confidential information online or discriminating the information through journalists or reporters
- Misappropriation of trade secrets through theft or other means
Legal Options for Employers When an NDA is Breached
If your employee has violated the terms of a non-disclosure agreement, it is important to speak to a lawyer for personalized guidance about how to proceed. Your attorney can evaluate the circumstances of the breach, gather evidence, and determine the best way to minimize the damage to the company. Monetary damages are a common remedy for breach of contract. However, successfully recovering damages will require strong supporting evidence and an accurate assessment of the financial magnitude of the breach. Employers may be able to negotiate a settlement through mediation or other dispute resolution methods. In some cases, however, litigation is necessary to recoup the financial losses resulting from the breach and prevent the employee from further damaging the company.
Contact a Ft. Lauderdale Business Litigation Lawyer
The ramifications of an employee breach of contract can be significant. If your employee violated a non-disclosure agreement by sharing confidential information with others, contact The Elliot Legal Group, P.A. for legal guidance. Fort Lauderdale business law attorney Gavin Elliot has over 20 years of experience representing clients in a range of business law needs. Mr. Elliot is also experienced in international business law and is licensed to practice law in England and Wales.
Call The Elliot Legal Group, P.A. today at 754-332-2101 for a confidential case assessment.
Source:
https://www.investopedia.com/articles/investing/041315/how-ndas-work-and-why-theyre-important.asp
