Protecting Your Company’s Trade Secrets
Trade secrets are practices and processes not readily ascertainable that give a company a competitive advantage over its competitors. Trade secrets include, but are not limited to, formulations, confidential business methods and data, manufacturing methods, and even software.
What Are Trade Secrets?
A trade secret is any information that:
- Provides a business with a competitive advantage
- Is not generally known to the public or competitors; and
- Is covered by internal measures to protect its confidentiality.
Unlike patents, trademarks, and copyrights, trade secrets are not protected through a government-approved property right. Instead, companies must proactively keep their trade secrets confidential to maintain their protected status. Failure to do so will prevent the business from being able to prove that the alleged misappropriated information was indeed a trade secret in a trade secret misappropriation lawsuit.
As an experienced trade secrets attorney, Susan Troy offers strategic legal counsel to help companies safeguard this sensitive information, ensuring their trade secrets remain secure and protected from misappropriation. Her legal services are specifically tailored to her clients’ needs and objectives and include the following:
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Developing Trade Secret Protection Strategies
Susan works with businesses of all sizes to create comprehensive strategies for protecting their trade secrets. She helps identify which information qualifies as a trade secret and assists in implementing internal policies and procedures to protect the information as a trade secret. She also drafts trade secret-related contracts such as non-disclosure agreements (NDAs) between the trade secret owner and employees and/or independent contractors. Trade secret NDAs should include very specific provisions to put the trade secret owner in the strongest possible position in the event of trade secret misappropriation.
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Conducting Trade Secret Audits and Risk Assessments
Susan conducts thorough trade secret audits to identify vulnerabilities in her clients’ practices/systems for protecting their trade secrets and other confidential information. She works closely with her clients to identify and resolve any weak points.
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Trade Secret Misappropriation Lawsuits
Susan represents clients in lawsuits involving trade secret misappropriation (theft). She helps clients navigate these disputes through negotiations, settlements, or court proceedings, ensuring the rights of trade secret owners are protected. Susan also provides defense strategies for individuals or businesses accused of trade secret misappropriation.
