Have you ever wondered what Coca-Cola actually puts into its soda? Or what about the “special sauce” that your local sandwich shop uses on its signature menu item? These are examples of “trade secrets,” or pieces of knowledge that are not generally known and that have value because their discovery is not wide-spread. Trade secrets make many businesses hum and without them, few people would care to dream up original or new ideas.
But trade secrets are also notoriously difficult to protect, especially in today’s world of anonymous leaks and online sleuths. However, that doesn’t mean that companies shouldn’t do everything in their power to keep their trade secret, well, secret.
In order to secure your trade secret, the law says that you have to take reasonable steps to assure its secrecy. So if you run Coca-Cola, maybe you force your soda to be made in different locations, with the ultimate combination of the ingredients from those locations creating the final product. Similarly, data encryption can be used to protect online data, with only select administrators having the ability to accessed the information.
Trade secrets are so important in the business world, and when they leak out or are revealed, the company has to take necessary measures to protect itself. At Costello Law Corporation, we take the matter of trade secrets very seriously, and we want to help businesses do everything they can to secure this vital piece of intellectual property so that their company can continue to strive forward.