Almost every company possesses multiple trade secrets; customer lists, prospect lists, product development plans, marketing plans, metal treating processes, recipes for sweets and a general format for sales presentations are all examples of trade secrets. In fact, a trade secret can be almost anything that (1) is not generally known to or reasonably ascertainable by the public, (2) has been the subject of reasonable measures to prevent its disclosure to the public, and (3) provides economic advantage over competitors or customers to a business.
However, many businesses do not understand the trade secrets that they possess, what steps they need to take to preserve their rights in those trade secrets, and how to defend their property if someone attempts to misappropriate one of their trade secrets. We can help you with trade secret matters.
For example, we can help you recognize when you may have a claim for trade secret misappropriation. Below are a few examples:
A key employee departs for a competitor. Note – the employee may be involved in many different areas, such as, the development of new products, marketing plans, or the development of information technology infrastructure. Usually, if you feel that the employee can cause you a lot of harm in her new position with your competitor, then she probably is in possession of one or more of your trade secrets.
Your company divulges information about a new product development at an investor presentation under a confidentiality agreement. A year later, a company that one of the investors decided to invest in comes out with a product that is similar to the product you discussed at the inventor presentation.
A long time board member that is privy to your marketing plans for the next year resigns from your company and joins the board of a competitor. Your competitor then announces similar marketing plans.
We have extensive experience in dealing with trade secret issues, whether you require counseling, or representation as a plaintiff or as a defendant. If you have a question or issue regarding trade secrets, please feel free to reach out to us via telephone or email. You may also fill out our online inquiry form and we will strive to get back to you within 24 hours.
The links below contain information about trade secrets and issues that frequently arise during trade secret litigation.
Trade Secret Misappopriation