Why might trade secrets be a good choice for me?
Trade secrets come to the fore in situations where “traditional” patenting might not be viable or of added strategic value. For example, trade secrets are of value when an invention doesn’t satisfy patentability criteria or enforcement of patent rights would be particularly difficult, when the life span of the technology is relatively short, as well as in such cases where immense effort was invested to amass data or know-how that if not kept in confidence – could be easily copied. However, it’s essential to remember that the enforceability of trade secrets can often be very challenging as it requires a clear demonstration that the secret has been unlawfully acquired, disclosed, or used. As such, proactive measures combined with readiness for the challenges of enforcement, are essential when adopting a trade secret strategy.
How and when should I pursue trade secret protection?
Upon identifying information relevant for trade secret protection, measures should be swiftly put in place. Legal instruments, such as non-disclosure agreements, are commonly employed, complemented by organizational practices like access restrictions and dedicated training sessions. The protection of trade secrets is especially pivotal during organizational shifts, evolving partnerships, or other transitions that might present exposure risks.
Seek expert guidance on trade secret strategy. Contact us today at CDS-LUTHI for guidance on the strategic management and protection of your confidential assets in complex business environments.