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Trade Secrets Archives

Unilateral and bilateral non-disclosure agreements

A non-disclosure agreement, or an NDA, is used to protect company secrets. It essentially says that the employee will have access to these secrets as a necessary part of their job, but they cannot legally let this information get to a third party. Doing so could harm the company, which may then take legal action against the employee to seek compensation.

Most people do not encrypt their email

People often ignore security measures when it comes to digital messages and assets. They know that things like firewalls and anti-virus software packages can help in theory, but they assume they don't really need them. They're hesitant to pay for anything and may only use free services or nothing at all.

When you have to share trade secrets with vendors

Often, the key to keeping trade secrets is simply to restrict the number of people who have access to them in the first place. Some companies are famous for keeping their recipes and formulas confined to one or two individuals. This way, even if an employee wanted to leak the secrets, they'd have no way to do so. It does not take nearly as much loyalty to avoid an issue.

Creating employee loyalty is easier than you think

When you want to protect your trade secrets, you can do it through legal means, such as having your employees sign a nondisclosure agreement (NDA). However, what you really want are loyal employees who won't try to sell out your company to the competition. They'll stay in their current positions instead of moving on and they will keep your trade secrets safe.

How far would you go to protect a trade secret?

Trade secrets are incredibly important. Your whole business may be built on one product or idea. The fact that you alone have the knowledge of how to create that product is what gives your company its strength. It gives you an edge. It sets you apart from other companies that are trying to enter the same space.

Nondisclosure agreements: 5 common uses

Employees are often asked to sign nondisclosure agreements when they're hired. In essence, the owners of the company understand that employees need access to certain sensitive information in order to be effective, but they also know that employees come and go. They don't want them to take valuable information that the company holds with them when they leave.

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To protect your valuable idea, contact our lawyers at Costello Law Corporation to set up an initial consultation. We are ready to assist you in any intellectual property issue.

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