A trade secret is defined as any valuable business information that is not generally known and is subject to reasonable efforts to preserve confidentiality. Trade secrets are used in business and usually provide an advantage over the competition. Unlike patents, copyrights, or trademarks, which are disclosed to the public as a condition for granting protection, a trade secret actually loses its protection if it is fully disclosed. The value and protectability of trade secrets depend on taking reasonable precautions to maintain their confidentiality.
While almost every business has at least some trade secrets, they are quite fragile because they protect information and resources that are secret, which necessarily means that protection is lost if and when the secret becomes publicly known. Unlike other types of intellectual property, trade secrets do not expire, provided they remain secret. At McKay Law, we are experienced in advising clients on trade secret law and how to safeguard their trade secrets proactively and quickly address threats of improper disclosure or use.
An intellectual property attorney can help you and your business develop and implement plans for keeping trade secrets secret. Whether by way of documentation, locks, passwords, restricted access procedures or locked cabinets, you can plan to keep your trade secrets undisclosed to outsiders. If a trade secret has been stolen from your business and disclosed to others, McKay Law can advise you on your options.
At McKay Law, we represent businesses and their employees in intellectual property disputes and other business litigation involving:
- Misappropriation of trade secrets.
- Covenants not to compete/non-compete agreements.
- Nondisclosure agreements.
- Duty of loyalty to an employer/employee.
- Protecting customer lists and other confidential information.
- Unjust enrichment damages.
Call our office today at 480-681-7000 to speak with an experienced trade secret attorney.