Since the Form2 instance is created from Form1, the easiest way is to create a property in Form2 which retrieves the data.
You then either display the form with
1) ShowDialog - the form displays, and when it closes from the OK button or otherwise your Form1 code will continue from that point and can fetch the data:
Form2 f2 = new Form2()
if (f2.ShowDialog == DialogResult.OK)
{
string myData = f2.Data;
...
}
2) Show - the form displays, but you need to add a handler to the FormClosed event and retrieve the data there:
Form2 f2 = new From2();
f2.FormClosed += new FormClosedEventHandler(ClosedForm);
f2.Show();
...
private void Closed(object sender, FormClosedEventArgs e)
{
Form2 f2 = sender as Form2;
if (f2 != null)
{
string myData = f2.Data;
...
}
}