Trade Secrets Law Attorneys

Understanding Trade Secrets Law

Trade secrets are the lifeblood of many businesses, representing a significant competitive advantage. Unlike patents, which protect inventions, trade secrets encompass confidential information that provides a business with a commercial advantage over its competitors. This information can include formulas, practices, designs, instruments, processes, or customer lists – anything a company keeps secret to maintain an edge.

Protecting trade secrets is a complex undertaking, and failure to do so can result in significant financial and reputational damage. Our experienced attorneys specialize in all aspects of trade secrets law, assisting businesses in proactively safeguarding their intellectual property and vigorously defending against misappropriation claims.

What Constitutes a Trade Secret?

Not all confidential information qualifies as a trade secret. To be legally protected, the information must meet specific criteria:

• Secret Nature: The information must be kept confidential and not generally known to the public.
• Economic Value: The information must derive significant economic value from not being disclosed to competitors.
• Efforts to Maintain Secrecy: The company must have taken reasonable measures to protect the information’s confidentiality, such as implementing security protocols, non-disclosure agreements, and limited access controls.

Trade Secrets Law – Litigation & Protection

Our legal team assists clients with a wide range of trade secrets issues, including:

• Misappropriation Litigation: We represent clients in lawsuits alleging that competitors have unlawfully obtained and used trade secrets, including through breach of contract, theft, or espionage.
• Trade Secret Investigations: We conduct thorough investigations to determine if a trade secret has been misappropriated and gather evidence for potential legal action.
• Protection Strategies: We help clients develop comprehensive protection strategies, including the implementation of robust confidentiality agreements, employee training programs, and physical security measures.
• Due Diligence: When acquiring a business, we conduct thorough due diligence to identify and assess potential trade secret risks.
• Damages Assessment: We accurately assess damages resulting from trade secret misappropriation, including lost profits, future earnings, and corrective advertising expenses.

Key Considerations for Trade Secret Protection

• Non-Disclosure Agreements (NDAs): Use NDAs with employees, contractors, and business partners.
• Employee Training: Educate employees on the importance of trade secret protection.
• Access Controls: Limit access to sensitive information on a need-to-know basis.
• Marking Confidential Documents: Clearly mark documents containing trade secrets.

Protecting your trade secrets is an investment in your company's future. Contact our legal team today to discuss your specific needs and develop a tailored protection strategy.