Legal Question in Business Law in Pennsylvania
Statute-of -Limitations
I am negotiating with an individual on purchasing timber harvesting rights and he had signed a non-disclosure/confidentiality type of agreement concerning timber stand (volume) data collected ten years ago. Is he still obligated to that agreement? Obviously there is little value in that data until stand growth and mortality can be captured and incorporated with the original data however this is a very large tract of land and it would take my three foresters months collecting data when starting at zero.
1 Answer from Attorneys
Re: Statute-of -Limitations
It really depends upon the terms of the agreement. Some agreements of this type indicate how long the information must be kept confidential. If there is really no value in the information, then disclosure of it shouldn't cause the individual much harm (and as a result, would he'd be unlikely to initiate any legal action).
Of course, a full review of the applicable agreement would be necessary to give you a complete opinion.
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