If you want your business to grow and stand out, you are probably going to need to do something a bit differently than your competitors. This is when having your own trade secrets can be important. These trade secrets can help you do something that other businesses just cannot do. It should be obvious that such information or methods need to be well-protected, and a Bergen County business litigation lawyer can help you with that.
What Can Be Considered Trade Secrets?
The trade secrets used by a business tend to be the kinds of things that set them apart. These secrets can be formulas, programs, or even just a specific technique. Some famous examples include the formula for Coca-Cola and the spice mix used in KFC’s fried chicken.
Unlike some other types of intellectual property, like trademarks or patents, you are not supposed to go “public” with trade secrets. When you need a patent, you apply for one and you make it clear exactly what you got that patent for. Everybody gets to learn about it. You don’t want your trade secrets to receive that same kind of treatment. These are known to you and your company, and having the details about one come out could be devastating to your business.
What Can a Business Do to Protect Trade Secrets?
Because of this, a business has to do everything that it can to protect trade secrets and prevent them from being disseminated to anyone who wants to listen. There are a few common ways to protect these valuable secrets, including:
- Notifying users of this information or method that it is proprietary and protected
- Using confidentiality agreements
- Employing various security measures at facilities, including fences, alarms, and ID badges
- Marking documents as confidential
- Protecting any such information with passwords or other security measures
- Limiting who has access to this information
- Using access logs that can easily trace who sought out information about trade secrets
Every business is different, so it’s a good idea to figure out which kinds of protective measures would work best for you instead of trying to apply some one-size-fits-all method.
When Do I Need a Lawyer?
A business lawyer can help you identify trade secrets and take the proper steps to safeguard them. If you have to enter into any kind of partnership or deal, we can help you find ways to protect what makes your business special. We can also assist with disputes, breaches of contract, or any other issue that could require you to take extra steps to protect your IP.
Schedule Your Consultation
If you want to learn more about how you can protect valuable intellectual property and secrets, our law firm can help. Contact the Law Offices of Colin M. Quinn to schedule a consultation with our team. We can tell you what you need to do to protect yourself, your business, and your ideas.
