Do you have a lot of information you do not want getting out to the public? Trade secrets are commonly used in a company to protect their “secret formula.” Under the laws throughout most states, any confidential or proprietary information that helps a company to have an advantage over their competitors is considered to be a trade secret.
What Are Trade Secrets?
Trade secrets can be a number of things from customer lists to supply sources. If the information is released to the public or falls into the hands of your competitors, you can deal with financial ruin and considerable damage to your organization.
How to Protect Your Trade Secrets
Companies need to focus on protecting their trade secrets if they wish to stay in operation. While you can have discussions with your employees, it is beneficial to draft employee confidentiality agreements and disclosure policies. Confidential and proprietary information can be protected from improper disclosure with the right confidentiality agreements. Green Legal Group has years of experience drafting confidentiality agreements and disclosure policies. Our policies are designed to protect your organization from losing trade secrets. A contract must identify that the information was confidential and the efforts were made to prevent the information from being disclosed.
Leaving an Employer – What Are Your Legal Rights?
If you are planning to leave your employer, contact our office to discuss your legal rights. Our team can help you understand litigation and what you can do to avoid it when leaving a company.
What Should a Confidentiality Agreement State?
A reasonable policy needs to require that a company will identify proprietary material with a stamp stating “confidential” on certain documents. The stamp helps to solidify the document as being visibly noted that this information is not to be shared with anyone outside the company. Limit the confidential information to people that need to see it, and protect it with passwords or other system to employees that do not need to gain access to this vital company information.
Our trade secrets attorneys can protect your company’s trade secrets and ensure that your vital company information remains safe. Contact our law firm in Salt Lake City, Utah for more information.