Q: Can I be held liable (by a new entity) for an NDA I signed with a company that is 100% sold to a new buyer or entity?
If I signed an NDA as a member of a now defunct LLC with a company for an “indefinite term.” Very general NDA to protect trade secrets, recipes, etc. If the owner of the company who I signed the NDA with passes away, and his heir takes over his rights (both business and estate), and sells the company to a new buyer, can the new buyer enforce the contract? I have since opened an LLC, would this protect me personally if I breached the NDA which I didn’t sign utilizing this LLC?
A:
Depending on the language of the NDA, yes. Have a free telephone consultation with counsel.
Jack
Tim Akpinar agrees with this answer
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