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The text discusses the importance of having a separate confidentiality agreement, called a proprietary information and inventions agreement, for employees and consultants. This agreement is crucial for every company and should be in place at the formation of the company. It is necessary for every employee and consultant to sign this agreement. Not having these agreements in place can cause issues, especially during M&A discussions, and trying to get people to sign afterwards can be challenging. It is important, especially if they were involved in inventing any technology, to have these agreements in place.
