Protecting Your Trade Secrets and Intellectual Property

As a business owner, you understand that the market is competitive. It takes something different, something unique to help one business succeed over another. In many cases, these differences include tried and true operational methods, technologies, formulas or specific procedures that allow an advantage over the competition. Are you aware that these trade secrets and pieces of intellectual property could be protected by law?

With the proper protective measures and safeguards in place, you can be sure your business is protected against future infringements. Unlike patents, trade secrets and intellectual property are protected without a registration process for an unlimited period of time provided they meet the following criteria:[1]

  • The information must be an actual secret – not generally known among or readily accessible to circles that normally deal with the information in question.
  • The information must have commercial value dependent upon it remaining a secret.
  • The rightful holder of the information must take reasonable steps to keep the information secret.

Steps that qualify to protect intellectual property and trade secrets include:

  • confidentiality agreements
  • ensuring that only a limited number of people have access to the information
  • agreements within employee contracts and documenting the nature of confidential information.

If your business depends on trade secrets for success, it is best to speak with an experienced business lawyer, like Attorney Michael Hynum of Hynum Law to ensure your information is protected now and in the future. Contact us today to get started.

[1] according to Article 39 of the Agreement on Trade-Related Aspects of Intellectual Property Rights