No matter what type of business you are involved in, there is information that must be protected. You wouldn’t want competitors obtaining your client list or schematics of a new product. The business could not gain a competitive edge if all of its information was released. Information can be protected by legal remedies that prevent from misappropriation and unauthorized disclosure of the company’s information. If your business secures a trade secret protection it can benefit the company in the long run. Trade secrets can be difficult to keep confidential over a long period of time and when many people in your company know about it. There are many different methods that can be taken to protect your companies trade secrets but it also depends on the situation.
If members that are outside of your company have access to your trade secret information, you want to include a condition about confidentiality protections in your business with them. You can customize a non-disclosure agreement that includes some of the following:
- Acknowledgment that the information given is considered a trade secret,
- Agree not to share the information with anyone who is unauthorized,
- The individual could not attempt to reverse engineer the information,
- And any other protections that may be deemed necessary.
Employees that have access to the company’s trade secrets should be subject to policies that regard the disclosure and security of information. Employees should be clear on protecting the confidential information that is produced within the company. Having employees know what information is considered to be along the lines of confidential is also a very important implementation. Even if the employee does not have access to the information, they are still expected to abide by these rules.
Control Over Information
The company should implement controls over the trade secrets to decrease the risk of the information getting released to employees and others who do not have a need-to-know requirement. Keycards and keycode access can help restrict certain areas of the building that are marked as secure locations for documents or materials that are specified as trade secrets. Since technology is always improving, your company most likely has electronic files of your trade secrets. To ensure safety, make sure your company’s data is secured and that only certain individuals have access to the information or codes.
**This article is for informational purposes only and is not intended to be legal advice. In relation to your individual situation, always seek advice specific to your circumstances from a lawyer.