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.
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.
Trade secrets may be very, very important to your business. If they get out, your ideas could be stolen and your business could be undermined. Below are a few things you should know about preventing this.
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.
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.
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.