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trade secret protection Archives

Think about legal protection for your company's trade secrets

The trade secrets of your business are one of the things that set your business apart from others. You don't want another company jumping around you to discover your plans. You have to take steps to keep your trade secrets protected.

Protecting valuable trade secrets

The theft of trade secrets has become a major cyber concern for organizations across the globe. As much as $300 billion annually is lost by companies and agencies each year because of trade secret theft -- that's well over the amount of value the United States exported to the entire European Union in 2013, so it's not a small number. While the theft of intellectual property and is often enabled by technology devices, such as flash and external drives that now hold terabytes worth of data, the culprit can often be an existing or former employee.

3 actions for protecting trade secrets

You put a lot of work into your brand, probably over a long period of time, but all it takes is one leak in your company to diminish brand value by spilling trade secrets across the market. By taking a proactive approach, you can help prevent trade secrets from being revealed. Here's a look at three ways you can protect your trade secrets.

2 top tips for protecting your trade secrets

A solid nondisclosure agreement is always a good idea when you have company and trade secrets to protect, but a piece of paper -- even a legally binding one -- can only offer so much coverage. Here are two top tips to put in place if you want to maximize protection of your brand and corporate information.

How a nondisclosure agreement protects your company

A nondisclosure agreement is part of a contract that can help to protect your trade secrets. When you hire a new employee, you may have to tell him or her some of these secrets in the course of production, research and development or some other part of the process. The agreement simply says that the employee legally agrees not to go elsewhere and use or sell that secret.

Defend Trade Secrets Act signed into law

Senator Orrin Hatch, R-Utah, was present when President Obama signed the Defend Trade Secrets Act into law on May 11. The new law will now allow businesses to sue others in federal court for misappropriating intellectual property and trade secrets. Before the law went into effect, the lawsuits were only allowed in state courts.

Executive that left Lyft for Uber sued by former employer

As many Californians already know -- and as Bay Area residents are acutely aware -- ride-sharing services such as Uber and Lyft are all the rage nowadays. These companies allow everyday people to transport people from point A to point B, just like a taxi would. It's a genius business approach that has turned these companies into incredibly profitable companies that are renowned across the globe.

How do you protect your company's trade secret?

Have you ever considered why certain companies or products are successful? This isn't an easy question to answer, but one common aspect among successful businesses and companies is that they have something unique about them. Maybe a part of the product is unique; or the production process is unique; or the methodology behind a product is unique. These things, and even the more intricate details or aspects of these things, are called "trade secrets," and protecting them is vital to any company that wants to succeed.

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