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The text discusses the importance of having a proprietary information and inventions agreement for employees and consultants, which is separate from a confidentiality agreement. It emphasizes that such an agreement should be in place when the company is formed, and that all employees and consultants should sign it. Failure to do so can create issues, especially if they were involved in inventing any technology. It can be challenging to gather signatures retroactively, so it is crucial to have this agreement in place from the beginning.