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Posts tagged "Trade Secrets"

Can food producers have trade secrets?

When it comes to food, transparency is important. Consumers need to know what they are putting into their bodies, and all food products sold in stores have lists of ingredients and nutritional content. This doesn't prevent people from buying things that are unhealthy or questionable, of course, but they have a right to know exactly what they're buying. The ingredients cannot be kept a secret, as consumers could then be exposed to risks that they don't understand.

Do software need to worry about their trade secrets getting out?

The internet has made it easier for business associates worldwide to share information between themselves in this technological era. While this has been a good thing in many cases, it's come with some downsides. One of those is how to protect trade secrets and other proprietary information from being intercepted by competitors.

Steps to protecting trade secrets

Do your trade secrets give your company an edge? Is it imperative that you protect those secrets from the competition? Even for some of the most well-known brands in the world, the entire value of the company lies in their trade secrets -- the things that really set them apart. Protecting that is crucial.

What's reasonable protection of your trade secrets?

Many companies have invested a lot of energy into combating hackers that have attempted to steal their intellectual property (IP) in recent years. While cyber crime can be blamed for some of this information becoming public, it's not the primary reason why trade secrets have been exposed. Data compiled by the World Intellectual Property Organization (WIPO) shows that 85% of all state and federal IP cases can be attributed to employee misappropriation. Any company that maintains valuable IP rights such as trade secrets is required to take reasonable steps to protect its confidentiality.

Want to protect your trade secrets? Here's how to start

Trade secrets -- the information that your company owns and jealously protects from its competitors -- have a lot of value. If you're a business owner today, you'd be very remiss not to take steps to protect your trade secrets. In fact, failing to do so means that you could lose the right to call some of that information a "trade secret" at all.

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.

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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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