Protecting your company's trade secrets is important for two reasons:
- You'll make it less likely that confidential information will be misappropriated.
- It will be easier for you to seek relief in court if your secrets are stolen.
In one form or another, 40 states and the District of Columbia have adopted the Uniform Trade Secrets Act. Almost any secret information that gives a business a competitive edge can be protected under this broad law. That includes manufacturing processes; the formula for manufacturing a product; software; customer lists and information; general corporate strategy; business plans; and marketing techniques.
The information must be secret and must be "the subject of efforts that are reasonable under the circumstances to maintain its secrecy."
Although the law explicitly indicates that not every employee and every person must receive exp...(register to read more)