Legal Question in Business Law in California
I received a business plan that included detailed financial information from a potential competitior. What liability do I have to disclose that I have received it? I have severed my relationship with the individual that presented it.
Asked on 12/27/11, 3:57 pm
1 Answer from Attorneys
Unless you are contractually obligated to inform the potential competitor that you received this information, I doubt you have a duty to inform them. Obviously, you should not use this information for your benefit or to their determent. You should consider sending the potential competitor a letter stating that you received this information, but it was properly and promptly destroyed. Whether or not this is what you should do would depend on several factors that you would need to discuss with an attorney.
Answered on 12/28/11, 8:18 am
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