Trade Secrets

Most businesspeople understand that certain types of intellectual property enjoy protection under the law. But these protections are not extended to trade secrets. A trade secret can be a recipe (like the famous Coca-Cola formula) or it can be a process, procedure or other type of information that gives a business a competitive advantage in the marketplace.

The only way to enforce protections for your trade secrets is to restrict access to the information.

Any individuals with access to the trade secret should sign a nondisclosure agreement. Such an agreement will specify the punishment for disclosing the trade secret.

If someone is able to independently reverse-engineer or stumble upon the same secret, there is no protection available to you. But if someone leaks the information, you may have a claim for misappropriation of trade secrets. You will need the help of an experienced attorney to enforce the terms of the nondisclosure agreement and seek compensation for lost profits.

Because trade secret laws are weak, it is important to consult with an experienced attorney who knows how to best enforce nondisclosure agreements and collect damages on your behalf. With 30 years experience under his belt, Frank Lamothe is the man for the job. Call our office today for a free consultation and case evaluation.