Intellectual property – the value of trade secrets

What exactly are trade secrets? Well, they can take a number of forms, including your supplier and customer database, the next marketing campaign you are planning, a particular formula or process, or even the finances of your business. Whilst all of these may not appear on the balance sheet, keeping this sort of information confidential and away from the prying eyes of your competitors can be critical to the success of your business – so what can you do to protect trade secrets?

Our intellectual property lawyers suggest that you consider taking the following seven simple steps;

1. make sure that your employee manual includes clear warnings and directives about confidentiality
2. consider amending your standard contracts of employment to include clauses dealing with restriction of confidential information and non disclosure to third parties
3. consider limiting access to certain parts of your office or factory
4. make sure that any sensitive or critical paperwork is kept secure under lock and key
5. mark critical documents as "confidential"
6. restrict the circulation of any confidential documentation
7. consider getting not only your employees but also any suppliers, business advisers, consultants, or even contractors to sign to a nondisclosure or confidentiality agreement

If you want help with drafting non disclosure agreements or amending your contract of employment or employee manuals -or indeed with any other aspect of protection of your trade secrets - contact our IP solicitors or employment lawyers, both of whom are happy to offer you free initial phone advice.

Contact our Trade Secret Lawyers
For city quality intellectual property advice you can rely on – at local prices -

• call our team on (01722) 422300 or
• email us advice@intellectual-property-lawyer.co.uk

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