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The text talks about the importance of a proprietary information and inventions agreement, separate from a general confidentiality agreement, which every company should have in place for employees and consultants. It emphasizes the need for all individuals working with the company to sign this agreement to protect the company's intellectual property. Failure to have this agreement in place can lead to complications, especially if individuals were involved in inventing technology for the company. It is crucial to ensure all necessary parties sign this document at the time of forming the company.