The Essentials of Proprietary Information and Inventions Agreement
Many companies sign a proprietary information and inventions agreement (PIIA) with their employees to protect their intellectual property from disclosure.
Writing such a contract is a serious task since such legal documents require a flawless structure and contents to remain valid. This is why our guide provides you with the best tips on creating a solid PIIA and generating various other agreements without relying on inaccurate contract templates. Subscribe to DoNotPay and learn how to do it with zero effort!
What Counts as Intellectual Property and Proprietary Information?
Even though contracts usually define the main terms of the deal, not all of them include a list of all business aspects qualifying as proprietary information or intellectual property. There are four main types of intellectual property:
- Patent rights
- Trade secret rights
These categories include numerous elements that form part of the overall business profile. They include:
- Marketing plans
- Customer details
- Financial information
- Personnel information
- Specific business ideas
- Literary and artistic works
- Formulas and procedures
- Research and development
- Software and technology specifics
Definition of a Proprietary Information and Inventions Agreement
A proprietary information and inventions agreement (PIIA) is a contract that obliges an employee to keep the internal intellectual property and inventions of the employer confident. The worker agrees not to use or share the particular proprietary information unless the company (or inventor) gives them special permission to do it. This way, the employer ensures that the ideas and strategies they created will remain private and unavailable to third parties.
What Disclosures Can a PIIA Cover?
Some recommended clauses that a PIIA should include are listed in the table below:
|General information||The introductory part of the agreement should state the names of the signing parties. Leave a place for signatures and the effective date at the end of the document|
|Confidentiality||A confidentiality clause states that the employee should treat the proprietary information and inventions as the exclusive property of the employer. They can’t disclose any related details or share them with third parties|
|Assignment||The assignment section should contain the list of:
|Non-competition||The employee should agree not to engage in any competitive business nor use the employer’s intellectual property in it|
|Return of company document||The employer defines the precise types of documents that the employee should give back once the employment contract ends|
|Governing laws||The parties must note the state-specific laws and regulations the agreement must align with|
Do You Need To Have Your PIIA Notarized?
All you need to do to make your proprietary information and inventions agreement legally binding is to sign it along with the other party. Some people decide to have it notarized for extra security, but this step isn’t necessary.
How Can DoNotPay Help You Draw Up Contracts?
If you have tried to write a contract before, you probably know what a fuss it can be, especially if you aren’t familiar with the law. To avoid mistakes and get a complete contract hassle-free, turn to DoNotPay and try out our Standardized Legal Documents feature!
We have developed a specific tool that enables you to generate various agreements and other legal documents in a few clicks! Say goodbye to failed drafts and overpriced legal services—DoNotPay provides a fast, affordable, and effective solution.
To get your agreement with our help, follow the instructions below:
- Sign up for DoNotPay and log in to your account
- Look for the desired document by entering the keywords in the search box—affidavit, NDA, or lease agreement, for example
- Specify the details your contract should cover
Once you complete this short procedure, you can access a personalized contract tailored to your needs and wishes!
If you sign up for our service, you will gain access to multiple standardized documents, including:
- Quitclaim Deed
- Non-Disclosure Agreement
- Bill of Sale
- General Business Contract
- Non-Compete Agreement
- Child Care Authorization Form
- Residential Lease Agreement
- Intent To Purchase Real Estate
- Estoppel Certificate
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