How Do I Protect My Company’s Trade Secrets?

Video Script Below

How do I protect my company’s trade secrets? I’m Steve Kramer. I’m a Florida intellectual property attorney and today we’re going to talk about what is a trade secret and how do you protect it. A trade secret is a specific formula, a process, a design, a pattern – it’s something that most people don’t know about. The general public doesn’t know about it and you do so therefore it gives you a competitive advantage in the market. And by protecting it, you protect your company’s advantage in the market. Now there’s a lot of a ways to protect a trade secret. One of the ways you can do that is you can enter into what’s called ‘non-disclosure agreements’ right? And that means that you sign it with somebody else, maybe one of your employees or the people you work with and it, and it prevents them from disclosing it to other people. Another way you can deal with it is you can do non-compete agreements. Not quite the same level of secrecy but it can useful in the pantheon of tools you might use. The third way you can protect your trade secret is putting safeguards into place by limiting how many people have access to it, for example. So what comes to mind there is Coca-Cola’s recipe. Very few people know about that. It’s one of the most heavily guarded trade secrets in the world, in history. Or the eleven herbs and spices, you know, from the Colonel’s eleven herbs and spices from Kentucky Fried Chicken, another trade secret. Regardless whether you keep them secret, whether you limit exposure, whether you enter into non-disclosure agreements, whatever tools you use it’s important to have a carefully guided strategy to protect your trade secrets. And if you have any questions how to implement that, how to do that, how to protect yourself, call me. I’m glad to help you with this or any other legal issues you’ve got – that’s why we’re one firm for life. We’re here to help the life cycle of your business and the life cycle of your personal life. Pick up the phone. I’m Steve Kramer, thanks for watching.

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