Common use of Trade Secret Status Clause in Contracts

Trade Secret Status. The Company considers much of its Confidential Information to constitute trade secrets of the Company (“Trade Secrets”) which have independent value, provide the Company with a competitive advantage over its competitors who do not know the Trade Secrets, and are protected from unauthorized disclosure under applicable law. However, whether or not the Confidential Information constitutes Trade Secrets, the Participant acknowledges and agrees that the Confidential Information is protected from unauthorized disclosure or use due to the Participant’s covenants under this Agreement and the Participant’s fiduciary duties as an employee of the Company.