QUESTION
Is the manufacturing process non disclosure agreement still valid after the company has gone bankrupt?
Asked on Jul 24th, 2014 on Labor and Employment - California
More details to this question:
I signed a nondisclosure agreement for manufacturing process and the company went bankrupt. I need to know if this agreement is still valid and whether I can use the information for my own benefit?
3 ANSWERS
Labor and Employment Litigation Attorney serving Beverly Hills, CA
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Thomas & Associates
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This question is not as simple as it sounds. First, there are various types of bankruptcies; If the Company went into Chapter 11, it may reorganize and reemerge. In that case it could still enforce the agreement. On the other hand, if the bankruptcy is a Chapter 7 - a complete dissolution, you can probably do what you propose.
Answered on Jul 25th, 2014 at 6:02 AM
It is difficult to answer the question without reviewing the entire agreement. It is most likely still valid.
Answered on Jul 25th, 2014 at 6:01 AM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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The non-disclosure agreement is still valid, despite the filing of a petition for bankruptcy. You may wish to seek permission from the bankruptcy trustee for termination of the agreement. The trustee, however, does not necessarily need to give you that permission.
Answered on Jul 25th, 2014 at 5:55 AM