How can a business be damaged by accepting the confidential information of others?
Minneapolis patent attorney Suneel Arora of Schwegman Lundberg & Woessner explains problems a business may encounter when accepting confidential information of others.
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What happens when you get the confidential information of another party? So you’re the recording party you’re getting confidential information from another party it may very well be that the relationship comes to an end. It may go sour or you might just move on to other relationships. And at that point, there will be a return of confidential information to the disclosing part but that might not be enough because it may very well be that you have retained in your mind confidential information that you’ve been exposed to. And that can create real problems in the sense that if you need access to that confidential information going forward you have it in your mind and it’s very difficult to go forward without using that confidential information that you have in your mind. And that might actually even require dedicating a separate engineer to develop a similar sort of invention without being comprised by having received the confidential information. So getting confidential information can create real problems going forward and that’s something you want to think about in addition to just entering into the confidential ______.