Bond to Preserve Trade Secret

Bond to Preserve Trade Secret

KNOW ALL MEN by these presents that I, B son of A hereinafter referred to as the obligor hereby firmly hold and bind myself unto X son of  Y hereinafter referred to as the obligee in the sum of Rs. …………… of lawful good money as agreed and liquidated damages and not as a penalty which sum to be truly and sufficiently paid for which payment I, the said B  bind myself, my heirs, executors, administrators and representatives.

Dated this …………… day of  …………… 2000.

WHEREAS the said oblige has imparted and is still to impart special knowledge to the said obligor about the secret of art or process of manufacturing a ‘Patent’ known as ………… on the assurance and guarantee of the obligor as to preservation and maintenance of strict secrecy and confidence thereof for which purpose to give a bond or obligation as is hereafter given.

Sealed with my seal this ………… day of …………… 2000.

NOW THE ABOVE-WRITTEN BOND OR OBLIGATION is conditioned to be void in case the said obligor shall at all times hereafter whether in service or not under or otherwise connected with or not with the obligee well and truly keep, preserve and maintain or cause to be kept, preserved and maintained the secrecy of the said art or process and never to reveal the same to anyone under any circumstances, otherwise the same shall remain in full force and virtue.

Signed, sealed and delivered                                                                                           B

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