Trade Secrets: Your Advantage in Business
Trade Secret Experience
- Litigated a trade secret dispute regarding sales information, pricing, and customer lists in the manufacturing industry.
- Litigated a trade secret dispute regarding claims to confidential information within an electronic database of trademark, copyright, and patent licensing fees.
- Advised businesses of all sizes on how to identify, protect, and maintain trade secrets.
- Published articles regarding trade secret protection in the cannabis industry.
Trade secrets are often overlooked. It’s a shame because these secrets often can hold just as much, if not more value that more traditional forms of intellectual property, being trademark, copyrights, and patents. Unlike those forms of intellectual property, trade secrets are not registered with the government. Instead of formal registration, the existence of a protectable trade secret turns on whether that information was actually kept a secret.
You must take reasonable steps to maintain the secrets that give you a competitive advantage. This may sound simple, but in practice, this requires businesses to have a global view of their property, who has access to it, and how employees are trained to understand the value of this information.
Like most things in life, it is far better to be proactive when it comes to protecting trademarks. Forming a solid foundation of what valuable secrets you have, and how you plan to maintain them, will provide a great benefit in the future.
What is it?
Trade secrets are information that is secret and it is valuable because it is a secret.
Do I need it?
Most businesses will have some form of trade secrets, but some will rely almost exclusively on these items that set them apart from their competitors.
How much?
Trade secret advice is given on a case-by-case basis, generally at our hourly rates. To perform a full audit of your company’s secrets, prices start generally start at $3,000 and go up from there.