Creative Representation in Intellectual Property Matters
Trade secrets protect the proprietary and confidential aspects of your business. If you have valuable business information, you need to consider trade secret protection. Because many clients have completely internal processes, trade secrets can be preferable to patents, which disclose information to competitors. Trade secrets also last as long as you are able to keep the information secret.
At AdamsIP, our team offers skilled legal representation in a variety of intellectual property matters, including trade secret issues. We work with startups and established companies alike to develop comprehensive, creative solutions to complex intellectual property concerns.
Trade Secret Protection Offers a Solution to Otherwise Challenging IP Scenarios
Trade secret protection can provide a solution when copyright and trademark protection is inapplicable. For example, suppose you own and operate a local chain of popular diners. The single most popular item on the menu is a pie that is based on a “secret recipe” that you have not revealed to anyone else.
Can you protect that recipe? A cooking recipe may be difficult to protect through copyright or patent mechanisms. Trade secret protection, however, provides a great solution.
Trade secret law empowers business owners to protect valuable intellectual property. Generally, the trade secret must involve information, including a formula, pattern, compilation, program, device, method, technique, or process that:
- Derives independent economic value, actual or potential, from not being generally known, and not being readily ascertainable by proper means by other persons who can obtain economic value from its disclosure or use; and
- Is subject to efforts that are reasonable under the circumstances to maintain its secrecy.
The economic value of a popular recipe is obvious. The second requirement — secrecy — is more difficult to maintain and is the key strategic issue in many trade secret matters.
Working closely with your attorney to develop an internal strategy for protecting the “secrecy” of the trade secret is vital. If you keep the secret closely held and have internal mechanisms for preventing disclosure (i.e., having employees sign NDAs), then it is illegal for a competitor to steal the trade secret, and you can file suit for damages in the event that someone steals the trade secret.
This form of protection is quite powerful but does require holistic assessment and implementation, including well-drafted confidentiality and non-disclosure agreements, which are essential parts of your trade secret protection plan and strategy.
Contact AdamsIP for Strategic Guidance
If you would like to speak to an experienced attorney at AdamsIP about intellectual property protection strategies, including trade secret protection, we encourage you to contact our firm to schedule a complimentary initial consultation.
AdamsIP is a full-service intellectual property law firm with a broad practice that includes copyrights, patents, trademarks, trade secrets, and related matters. Simply put, we are business lawyers with an “eye” for IP — we develop and execute intellectual property legal strategies that are centered around the idea of IP as a business asset. We work closely with each client to ensure they can not only protect their assets but also monetize their value.
We offer a number of fee arrangements (including flat-fee options) to suit a broad range of clients, from restaurant chains to early-stage tech companies. We look forward to speaking with you.