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Find Trade Secrets Lawyer

Trade Secrets

Many companies have a “secret ingredient:” some kind of unique formulation, process, or algorithm that allows a company to have a leg up on their competition. Usually the result of extensive internal research and development, these unique edges are known as trade secrets.

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The Blake Law Firm, PLLC

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13 years in practice
Intellectual Property
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King & Ballow Law Offices

32 years in practice
Intellectual Property
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Evergreen Valley Law Group

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22 years in practice
Intellectual Property
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The Law Offices Of Peter M. Stanwyck

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51 years in practice
Business Law, Intellectual Property
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King Law Offices

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25 years in practice
Criminal Defense, Divorce & Family Law, DUI Law, Intellectual Property, Trust & Estate
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Bergstein Flynn & Knowlton

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8 years in practice
Intellectual Property
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Protecting Companies’ Competitive Edges

Trade secrets are defines as unique edges that are concealed from the general public in order to improve the company’s performance. There are a number of steps recommended by the U.S. Patent and Trademark Office for protecting trade secrets as well as remedies provided by the court system in the event of misappropriation.

Protecting Trade Secrets

The U.S. Patent and Trademark office lists seven steps to protecting trade secrets:
1. Identify the trade secret
2. Provide physical security measures
3. Provide cyber security measures
4. Identify internal threats
5. Provide security training.
6. Appoint a trade secret point of control
7. Have an incident response plan
Some of these measures such as providing security procedures, are meant to prevent breaches and can include steps such as video surveillance, implementing ID badge practices, maintaining computer event logs, and requiring multi-factor authentication. Other measures, such as having an incident response plan, are meant to enable companies to reactively move when breaches occur.

Remedies for Trade Secret Misappropriation

In the event that a trade secret is stolen or improperly disclosed, the company may sue on the grounds of trade secret misappropriation. In the event that a trade secret has been exposed, the company can petition the courts to file an injunction to legally stop the spreading or use of a trade secret by unauthorized parties. Additionally, companies can file for damages suffered as a result of the trade secret’s exposure.

Protecting Your Intellectual Rights

If you have a trade secret that you need to protect, you will need the help of an experienced intellectual property law attorney. An intellectual property attorney is able to focus completely on your case and get you the best possible outcome.

In order to achieve this best outcome, however, you will need an attorney who has the expertise and resources to take your case all the way. That’s why you should contact Attorney at Law. By partnering with AAL, you will be able to avoid slogging through the quagmire of unscrupulous lawyers looking to exploit your case.

At AAL, we only partner with the best firms in your area, helping you find the best attorney for your case. Don’t wait, contact AAL today to be matched with skilled and experienced attorneys in your area who practice intellectual property law.

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Trade Secrets Frequently Asked Questions

1. What is a trade secret and how is it different from other forms of intellectual property?

A trade secret is a practice, process or formulation that is not known outside the company that gives the company an economic edge or competitive advantage. Trade secrets are often the result of internal research and development. In order to be considered a trade secret, a reasonable effort must be made to conceal the information from the public, the secret must have economic value, and contain information.

This is separate from a patent or copyright in that patents and copyrights are publicly known and available. Copyrighted works are intended for public consumption while patents are publicly available from the U.S. Patent and Trademark Office.

2. How can I protect my trade secrets from unauthorized disclosure or use?

The U.S. Patent and Trademark Office recommends several steps to protect intellectual property including physical security, cyber security, identifying insider threats, and appointing a trade secret point of control.

3. What are the potential legal remedies for trade secret misappropriation?

There are two major remedies for trade secret misappropriations: injunction and damages. Trade secret injunctions use the power of the court to demand that the misappropriating party stop using the trade secrets in their practices and spreading the trade secrets to others. Additionally, a company can file for damages suffered as the result of sharing the secrets with others.

4. What are the key factors to consider when determining if information qualifies as a trade secret?

In general, there must be something that exists as a trade secret, meaning that the information is being kept from the public and other companies in the same industries. Second it must be demonstrated that the company has ownership of the trade secret information. Third, notice must be given that the information is restricted. Finally, access to the trade secret must be restricted and monitored.

5. How do trade secrets relate to non-disclosure agreements and employment contracts?

Employment contracts can maintain the necessity of protecting trade secrets but trade secrets cannot be established through NDAs or contracts. The purpose of an NDA or employment clause is to serve as another layer of protection for a company’s trade secrets.

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