Trade Secret Protection

If your company is a typical Silicon Valley tech company (or any other technology enabled business), it is likely that your most valuable asset consists of trade secrets. This category of legally protectable property includes software, algorithms, secret formulae, processes and other valuable and confidential information. The nature of ownership of trade secret, and the attribute that gives the information its commercial value, is that the owner may prevent other parties from using it.

 

Unlike other types of intellectual property, such as patents, trade secret protection is not established by filing. The Uniform Trade Secrets Act (“UTSA”) defines trade secrets as “information, including a formula, pattern, compilation, program, device, method, technique, or process that:

 

1. Derives independent economic value, actual or potential,

2. from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and

3. is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.

 

The third prong of this test is the trickiest. It is easy to lose trade secret protection by failing to take steps to maintain the secrecy of the information.

How We Can Help

The Royse Law Firm, in conjunction with our industry partners, offers a trade secret protection solution so you can be assured that you have taken steps to protect your trade secrets. We partner with technical IT consultants so you have made reasonable efforts to maintain the secrecy of your trade secrets. Under our Trade Secret Protection Service, we will review your operative agreements, such as:

 

1. Standard employee proprietary information and invention assignment agreements;

2. Non Disclosure Agreements (NDAs) / Confidentiality Agreements; and

3. Contractor, vendor, partner and supplier contracts for confidentiality and non-reverse engineering provisions.

 

We will also help you craft a company policy on protecting and maintaining the confidentiality of company information including best practices, and we will follow up with personnel training sessions as needed. Our technical partners will assess both your physical and computer data security practices and make recommendations consistent with best industry practices.

 

Trade secrets can be a significant IP asset for your company. It may also be the easiest IP asset to lose without implementing a trade secret protection plan.

Our Intellectual Property Experts

Silicon Valley Intellectual Property (IP) Attorney
Attorney
Silicon Valley
ahaus@rroyselaw.com
Silicon Valley Patent Attorney
Attorney
Silicon Valley
rhayden@rroyselaw.com
Silicon Valley Intellectual Property (IP) Attorney
Attorney
Silicon Valley
snarayan@rroyselaw.com
Silicon Valley Patent Attorney
Attorney
Silicon Valley
scolby@rroyselaw.com
IP Lawyer Silicon Valley
Attorney
Silicon Valley
tmoore@rroyselaw.com

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