Key Steps to Take To Secure Your Trade Secret

One of the most important things about protecting your trade secrets is to take adequate measures to safeguard the confidentiality of your trade secret. Once your trade secret is disclosed, you can potentially lose all your protection. If, on the other hand, you take reasonable and adequate steps to safeguard your trade secrets, your IP can potentially last forever. Our firm can help you protect and enforce your trade secret. Here is a non-exclusive list of factors that courts may look to in determining whether your company has taken proper steps.

1. Use of confidentiality agreements to put employees, contractors, and others on notice of the need to protect the confidentiality of your trade secret.
2. Use of non-disclosure agreements for third parties who need-to-know the secret.
3. Limiting access to the trade secret on a “need-to-know” basis.
4. Using strong passwords that change periodically.
5. Use of surveillance cameras to protect the facility or premises.
6. Employing “exit interviews” for departing key employees.
7. Use of non-compete agreements where needed.
8. Use of employee handbooks to further memorialize confidentiality requirements.
9. Use of locked facilities to secure trade secret as needed.
10. Ongoing company training (culture of confidentiality).

These are just a few steps a company should consider to protect its valuable trade secrets. If you need help implementing a trade secret protection program, or performing an annual self-audit, contact us at (877) 276-5084.