question.jpgIn Trade Secrets

How can I protect my trade secret?

To protect your trade secret, you must ensure that its secrecy is maintained and that it is not publicly disclosed. Trade secret information should be kept in a secure location and, where possible, marked as “confidential.”

Of course, this secrecy does not have to be absolute, and there are times when you may have to disclose the information - for example, to employees or potential partners. To protect the trade secret status in such instances, there are several additional things you can do: (i) you should only disclose it to employees and other individuals who really need access to the information; (ii) you should make it clearly understood that this information is considered a confidential trade secret of yours; (iii) you should keep track of all copies of the information, and access granted to the information, with detailed records; and (iv) you should have people sign nondisclosure agreements and/or noncompetition agreements.