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Arkansas Employee Confidentiality, Non-Compete, and Invention Assignment Agreement

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Arkansas Employee Confidentiality, Non-Compete, and Invention Assignment Agreement Powered By Docstoc
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                             This Employee Confidentiality, Non-Compete, and Invention Assignment Agreement is
                             used by companies to keep company information confidential, protect intellectual property
                             rights, and prevent employees from working for competitors within a certain time frame.
                             This agreement defines what information is confidential or trade secrets and restricts its use
                             for the benefit of the company. It also restricts employees from working for a competitor for
                             a certain time period and within a geographical area. The agreement assigns to the
                             company intellectual property rights in employees' inventions made in the course of their
                             employment. This document should be used by companies located in Arkansas in order to
                             protect their confidential information and intellectual property.
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        EMPLOYEE CONFIDENTIALITY, NON-COMPETE, AND INVENTION
                      ASSIGNMENT AGREEMENT

THIS EMPLOYMENT CONFIDENTIALITY, NON-COMPETITION, AND INVENTION
ASSIGNMENT AGREEMENT (hereinafter termed as the “Agreement”) is executed and
effective as of ____ [Month] ____ [Date], 20____ [Year] (hereinafter termed as the “Effective
Date”), by and between ____________________________ [Instruction: Insert the name of
company]          having       its       principle      place      of        business      at
_______________________________________ [Instruction: Insert the address of company]
(hereinafter termed as the “Company”) and _______________________________ [Instruction:
Insert the name of employee] residing at ____________________________ [Instruction:
Insert the address of employee] (hereinafter termed as the “Employee”), individually known as
“Party” and collectively known as the “Parties”.

WHEREAS, the Employee acknowledges that the Company operates in a competitive
environment and that it enhances its opportunities to succeed by establishing certain policies,
including those included in this Agreement.

WHEREAS, this Agreement is designed to make clear that:

   a. the Employee will maintain the confidentiality of the trade secrets and confidential
      information of the Company and those of third parties the Company has agreed to
      maintain;

   b. the Employee will use the trade secrets and confidential information for the exclusive
      benefit of the Company;

   c. All inventions, discoveries, developments, designs, ideas, works of authorship,
      improvements, formulas, processes, techniques, know-how, and data (whether or not
      patentable or registerable under copyright or similar statutes) that the Employee creates
      will be owned by the Company;

   d. the Employee’s prior and continuing activities separate from the Company will not
      conflict with the Company’s development of its proprietary rights; and

   e. when and if the Employee’s employment with the Company terminates, he or she will not
      use his prior position with the Company to the detriment of the Company.

NOW THEREFORE, in consideration of the premises and the mutual agreements and
covenants contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged by the Company and the Employee, it is hereby
agreed as follows:




© Copyright 2011 Docstoc Inc. registered document proprietary, copy not             2
1. CONFIDENTIAL INFORMATION:

   Confidential Information means private or confidential information, data or materials of the
   Company, trade secrets, proprietary information and materials, and confidential knowledge
   and information which includes, but is not limited to, the matters of a technical nature (such
   as discoveries, ideas, concepts, designs, drawings, specifications, techniques, models,
   diagrams, test data, scientific methods and know-how, and materials such as reagents,
   substances, chemical compounds, sub-cellular constituents, cell or cell lines, organisms and
   progeny, and mutants, derivatives, or replications derived from or relating to any of the
   foregoing materials), and matters of a business nature (such as the identity of customers and
   prospecti
				
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Description: This Employee Confidentiality, Non-Compete, and Invention Assignment Agreement is used by companies to keep company information confidential, protect intellectual property rights, and prevent employees from working for competitors within a certain time frame. This agreement defines what information is confidential or trade secrets and restricts its use for the benefit of the company. It also restricts employees from working for a competitor for a certain time period and within a geographical area. The agreement assigns to the company intellectual property rights in employees' inventions made in the course of their employment. This document should be used by companies located in Arkansas in order to protect their confidential information and intellectual property.
This document is also part of a package Essential Arkansas Legal Documents 174 Documents Included