Protect The Trade Secrets That Give Your Business An Edge
Your trade secrets may give your business an advantage that competitors cannot easily copy. They may include customer lists, formulas, processes, algorithms or market knowledge that help you compete. Unlike patents, trade secrets do not need to be registered. Instead, you must take steps to keep this information secret. If someone obtains or shares it without permission, you could lose a valuable business asset.
At Fogarty IP, our trade secret attorneys help you protect valuable information and deal with the legal risks that come with it. With at least 10 years of Intellectual Property (IP) law experience each, our attorneys work with large companies that have in-house patent departments and smaller businesses that rely on outside IP counsel. Whether you need added support for your legal team or ongoing outside counsel, we bring that experience to your trade secret concerns and broader IP needs.
What Qualifies As A Trade Secret?
You may have a trade secret if the information has value because competitors or others cannot easily find or use it. You must also take reasonable steps to keep that information secret.
Trade secrets may include:
- Formulas and recipes
- Customer lists and compilations
- Computer programs and algorithms
- Methods and techniques
- Manufacturing or business processes
- Devices and other proprietary information
Someone can compromise your trade secrets by improperly obtaining, using or sharing protected information. For example, an employee may take confidential files to a new employer, or a competitor may obtain a protected process. A lawyer can help you review your safeguards and respond to threats to your trade secrets.
Protecting Your Company’s Trade Secrets
Fogarty IP helps you reduce trade secret risks through legal agreements and practical safeguards. Depending on your business and its needs, these protections may include:
- Employee confidentiality agreements: Agreements that set clear expectations for protecting your sensitive business information.
- Document classification systems: Systems that label information based on how sensitive it is.
- Physical and digital security measures: Safeguards that limit access to your sensitive materials and business information.
- Nondisclosure agreements: Agreements that require people who receive your sensitive information to keep it confidential.
- Noncompete agreements: Agreements that may limit certain activities after an employee leaves your business, subject to Texas law and its rules for enforcement.
- Exit interviews: Meetings with departing employees to review confidentiality duties and the return of company information.
These measures can work together to reduce the risk of unauthorized access, use or disclosure. Fogarty IP can help you choose protections that fit your business, employees and intellectual property needs.
Experienced IP Counsel For Businesses
Trade secret problems can create broader business problems when a competitor gains access to your confidential information, an employee takes it to a new employer or someone uses it without permission. Fogarty IP can serve as your outside intellectual property counsel or support your existing legal team when these issues involve patents, trademarks, copyrights or licensing.
Protecting a trade secret is often easier before a dispute begins. If you are concerned about how your business handles confidential information, or believe someone has disclosed or misused it, we can help you understand your options and decide what to do next.
Call 469-985-3505 or contact us online to discuss your concerns.