Founders Agreement With Vesting India

The founders` agreements also help to deal with uncertain events such as the death of the co-founder, resignation that directly affects sustainable growth and the smooth running of the company or company. In fairfest Media Ltd. v. ITE Group PLC (2015 (2) CHN 704), the petitioner, organizer of travel fairs, entered into a confidentiality agreement with the respondent for a period of 6 (6) months in anticipation of a joint enterprise agreement with the respondent at a later date. In accordance with the terms of the confidentiality agreement, the respondent was prevented from disclosing the confidential information for a period of two (two) years from the date of termination of the confidentiality agreement. The type of information for which the petitioner sought protection relates to the marketing strategy, customer base, calculation and cost-effectiveness of the travel fair organization. Where the parties did not conclude the negotiations, the petitioner sought a court injunction to prevent the respondent from using the confidential information for a period of two (two) years from the closing date of the confidentiality agreement. The High Court of Kolkata found that business information such as costs and pricing, planned capital investments, inventory, marketing strategies and client lists may be considered trade secrets, and has taken a publication ban preventing the respondent from disclosing information about the petitioner`s marketing strategy and customer received for a period of two (two) years from the date of termination. which imposed the confidentiality agreement after the termination of the non-disclosure agreement.

In the application of the confidentiality agreement after the information, the Tribunal also invoked the principle that a person who has received confidential information cannot use it as a springboard for activities detrimental to the person who provided the confidential information. In addition, the Tribunal used the Saltmen Engineering Co rule to determine what it would be confidential information in an English case.