ConnectU officially sued Mark in September 2004 for violating his agreement and stealing his idea. The parties reached a first agreement in February 2008, when Mark`s im messaging history was collected as evidence. This was not the end of the lawsuits, however, with the twins later claiming that Facebook had hidden essential information from them, but eventually, everything was settled in 2011. A confidentiality agreement (NDA) is a legally binding contract between the parties, which is useful for negotiations at the beginning. Another major issue with an NDA is the duration of the agreement. Here too, it is important to be reasonable, as for example for five years or something like that. The fact is that confidential information usually loses its value over time, which is especially the case in the rapidly changing world of technology. “The only problem with the non-compete rules is that they could backfire, especially in Silicon Valley and California, where any deal deemed anti-competitive could be overturned by the courts. As a result, Facebook was ordered to pay £395 million in damages. This case of Oculus (Facebook) covers all aspects of privacy; Trade secrets, employee restrictions and confidentiality agreements (NDAs). Added to this are copyright infringements and trademark abuses.
On Tuesday, at a hearing with a committee of British parliamentarians, Kogan referred to the deal, but he applauded when he was pushed by politicians for more details. “You have to ask Facebook,” he said after his lawyer hurriedly handed him a note probably warned him to be careful.