Bob, an engineer, is a new employee at Airbag Industries, which specializes in manufacturing automotive airbags. Before his employment, Bob is required to sign various documents indicating that he would have access to confidential information related to Airbag Industries' business practices, customer lists, and other information that must remain confidential. It further provided that any new developments created by Bob would be the property of Airbag Industries. Further, it provided that if Bob left the company he could not compete against the company in the United States for 10 years. Bob leaves three years later to set up his own airbag company. Explain why protecting their intellectual property is important to Airbag Industries. What intellectual property issues are involved in this scenario?

Bob, an engineer, is a new employee at Airbag Industries, which specializes in manufacturing automotive airbags. Before his employment, Bob is required to sign various documents indicating that he would have access to confidential information related to Airbag Industries' business practices, customer lists, and other information that must remain confidential. It further provided that any new developments created by Bob would be the property of Airbag Industries. Further, it provided that if Bob left the company he could not compete against the company in the United States for 10 years. Bob leaves three years later to set up his own airbag company. Explain why protecting their intellectual property is important to Airbag Industries. What intellectual property issues are involved in this scenario?