Combining Technical Knowledge And Legal Action Since 2002

  1. Home
  2.  — 
  3. Trade Secrets
  4.  — 3 ways to protect trade secrets

3 ways to protect trade secrets

On Behalf of | Aug 2, 2022 | Trade Secrets |

When it comes to lifting your business to new heights, you may first need to protect your trade secrets. But before that, you should know that trade secrets aren’t just the way you blend your coffee in the morning. 

Trade secrets have three characteristics: 

  1. They involve information that would give other businesses an upper hand.
  2. They include information that cannot be easily or legitimately obtained.
  3. They include information that is not meant to be known by competitors.

Once you’ve identified your trade secret, such as the recipe for Coca-Cola Classic, then you’re going to want to protect it. Here’s how:

Limit who knows your trade secrets

The best way to keep a secret hidden might be by never having anyone know the full secret – or, better yet, not letting on there’s a secret at all. This means not letting on to others what the exact details are about your trade secret. People can’t divulge what they don’t know.

Many employee contracts even include policies that limit what trade secrets they can take with them outside their employment. This can help deter employees from letting your trade secrets become public knowledge. 

Limit how your trade secrets can be accessed

You may have your trade secrets detailed in a special book, binder, file or hard drive that makes accessing it easy for you. If your secrets are too easy to find, however, the wrong person may stumble upon something you don’t want going public. 

Putting extra security on your trade secrets may help protect your business from unwanted eyes. Institute hard policies about who has access to your proprietary information. 

Know your trade secret rights

Secrets are hard to keep, especially if there are people who have to know your trade secrets to perform their job. Knowing your legal options to protect your trade secrets may be the best way for you to protect your business.