Trade Secrets: Enforcement | Bold Today Show Episode 155

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Hey everybody, I’m J.D. Houvener, your host of the Bold Today Show, where you, the inventor or entrepreneur, get your daily inspiration to make the world a better place. We’re here in our trade secret series, and we’ve talked Monday about kind of this idea of what’s a trade secret, how’s it different from patents--just yesterday we introduced this concept of within your own business, and even if it’s you and one employee, this matters. You know, you learned yesterday that it’s important to assess what information within your company is critical. What’s valuable to it, what makes it special? What is it that makes your company deliver products different than its competitors? These are all great ways to do the initial assessment, to begin identifying and labelling your internal processes, methods, and trade secrets as proprietary. So today I want to talk about the next step. Once you’ve done this initial assessment, how do you go about actually enforcing it? So say there were an employee that took that information and ran off with it to start up their own company, or spilled their guts and told the public about it, heaven forbid, how would you be able to enforce that right against an ex-employee, or another company that, on purpose, hires one of your employees, trying to get a trade secret? Well, this is both at the state level and at federal court, so you can take that defendant to state court, as every state has adopted the Uniform Trade Secrets Act. You’ll be able to move forward as long as you can prove three elements: one, that your trade secret information is indeed valuable--right, economically valuable; the second is that you’ve been making efforts to keep the information secret; this third, the third big element, is that it must not be readily ascertainable in the public knowledge base. So as long as those three elements are met, and you’ve been really doing a good job keeping your information secure, you’ve properly labelled it, identified it where it’s at, you’ll likely be able to be meritorious in this suit. So if you have any questions about how to protect those trade secret assets so that you’ll have the leverage to be able to enforce it down the road, give us a call. Our number is 800-849-1913, and visit our website, too, at boldpatents.com. I’m your host, J.D. Houvener, of the Bold Today Show. Go big. Go bold.

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