In July 2020 we were contacted by a client with whom we have worked on a number of different projects in the last four years, including preparation of many different contracts, trademark registration, industrial design registration, implementation of Regulation (EU) 67 /2016 (GDPR) on the legal side and others. This time our client again decided to hire us regarding the drafting of a Non-disclosure agreement in Bulgarian. For this purpose, the client provided us with full assistance by providing us with the necessary information for the preparation of the document. We were able to prepare a comprehensive Non-disclosure agreement, which was approved by our client and contains clauses on:
- Identification of the parties (disclosing and receiving party);
- The purpose of disclosure of the trade secret;
- A detailed description of what is a trade secret: – definition of a trade secret; – measures taken to keep the trade secret confidential by the disclosing party; – persons having the right to access and use trade information, know-how, and technological information constituting trade secrets.
- Acquisition, use, and disclosure of trade secrets: – lawful acquisition, use, and disclosure of trade secrets; – unlawful acquisition, use, and disclosure of trade secrets.
- Rights and obligations of the parties: – non-disclosure and non-use obligations; – no rights or licenses granted; – standard of care; – notification of disclosure; – no publication; – return of confidential information.
- Compensation for non-compliance with the trade secret agreement.
- Remedies: – liability of the receiving party for breach of its obligations; – liability under the Law on Protection of Trade Secrets; – liability under the Law on Protection of Competition.
- Miscellaneous: – the time period of the confidentiality and the term the agreement; – survival clause; – no waiver; – no relationship created; – no commitment; – governing law; – amendments in writing; – communications; – entire agreement.