Are there any obligations to disclose confidential information during a joint venture?

Yes, there are certain obligations to disclose confidential information during a joint venture in Oregon. The state of Oregon has adopted the Uniform Trade Secrets Act (UTSA) to protect confidential information during joint ventures. Under the UTSA, parties to a joint venture must disclose any confidential information to one another prior to entering into the venture. Information such as trade secrets, processes, or any other information that would be valuable to a competitor must be shared. Additionally, any confidential information that is exchanged during the venture must remain confidential and not be shared with third parties without the consent of both parties. Further, both parties must also take steps to ensure that any confidential information remains secure and not disclosed to others without prior consent. If either party violates the UTSA or does not take the necessary steps to protect any confidential information, they could be held liable for damages suffered by the other party. Therefore, it is important for the parties to a joint venture in Oregon to understand their obligations to protect confidential information and to adhere to the provisions of the UTSA.

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