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The text discusses the importance of having a separate confidentiality agreement, known as a proprietary information and inventions agreement, for employees and consultants in addition to a general confidentiality agreement. This agreement is crucial for protecting a company's intellectual property and should be in place when the company is formed. It is essential that every employee and consultant signs this agreement to avoid complications in the future, such as during M&A discussions. Failure to have these agreements in place can result in issues related to ownership of technology and inventions.
