Companies spend significant time and funds to protect their trade secrets. What is a Trade Secret? In Michigan, as in most states, has adopted a version of the Uniform Trade Secrets Act which defines a trade secret as a formula, pattern, compilation, program, device, method, technique or process that has both independent economic value and is not generally known to or not readily assessable by other persons, and is the subject of efforts to maintain its secrecy.
Trade secret information is most often protected by non-disclosure agreements (NDA) and non-compete provisions within employees and contractors of the business. Many businesses believe that they have proprietary information that would qualify as a trade secret, however, the issue that most often trips up a company is its efforts to maintain the secrecy of that information. First, it must meet the definition of trade secret, and then it must also be maintained as secret. Failure to password protect information contained in computer programs, for instance, has been held to have removed the label of what otherwise may have been confidential under trade secret law.
If you believe that you have proprietary company information that you want to maintain under trade secret law, then you must take significant measures to maintain its secrecy, both internally, and externally to those who may have access.
To evaluate whether or not you have a trade secret warranting protection under the law, have your matter reviewed by one of our trade secret attorneys.
If you believe that you have proprietary company information that you want to maintain under trade secret law, then you must take significant measures to maintain its secrecy, both internally, and externally to those who may have access.
To evaluate whether or not you have a trade secret warranting protection under the law, have your matter reviewed by one of our trade secret attorneys.
A California trade secret lawyer can help you better understand how to protect your valuable trade secret assets under California law. Well there is some difference between the various state laws, many states have adopted the uniform trade secrets act which standardizes many of the trade secret legal principles.
Posted by: California Trade Secret | 05/22/2012 at 01:27 PM
What is a trade secret? It is something of value to your company that provides business advantage and is not generally known outside your company. While a patent is published, a trade secret is kept under lock and key. A trade secret can not be publicly known. In order for something to qualify as a trade secret, you must treat it as a secret within your company. A small business attorney can help companies create a trade secret program within a legal budget that makes sense.
Posted by: What is a trade secret? | 11/15/2011 at 02:29 PM