What Are Best Practices for Protecting My Company’s Trade Secrets?

As a business owner, few things are more important than protecting your company’s trade secrets. Trade secrets are, as you know, a company’s “secret sauce,” if you will. Essentially, your trade secrets are what makes your company special and what sets you apart from other competitors in the field. For this reason, it is crucial that all business owners hire a competent trade secret lawyer. A Lemler IP trade secret lawyer in New Orleans, Louisiana can help business owners protect their valuable intellectual property. That said, aside from hiring a lawyer, there are certain precautions you can take to protect your property as well. Read on to learn more.

Tips for Protecting Your Company’s Trade Secrets

Just some of the more important steps you can take to protect your valuable trade secrets are as follows:

• Be careful about who you allow to access certain information. Chances are, not everyone in your company needs to be privy to all, or any, of your trade secrets. The fewer people who have access to this valuable information, the better. Also, it pays to keep a record of anyone with access to this information–if there’s ever a breach, you’ll know exactly who the suspects may be. Requiring employees to sign non-disclosure agreements before sharing trade secrets is also a good idea.
• If your trade secrets or other sensitive information is stored digitally, use strong passwords. This is self-explanatory. You don’t want to make your password something that anyone who knows you can guess. Typically, it’s best to use a combination of random letters, numbers, and symbols (something no one could guess, no matter how well they know you).
• Consider using encryption technology as an added layer of security. Even if someone figures out login information, encryption technology can set up a final wall of defense to prevent unauthorized personnel from accessing sensitive information.
• Create written policies regarding proper protocol for employees to follow. These policies should clearly outline exactly what employees may–or may not–access, as well as rules that employees must follow, should they be granted access to certain information. These rules can also address how employees should conduct themselves with respect to being privy to this information, should they ever eventually leave the company.
• Have strong virus/malware detection software, and run it often. Hackers and other criminals looking to make a profit off of your valuable intellectual property are just a few clicks away from stealing your trade secrets. It is paramount that you install and run top-of-the-line virus and malware detection software that can regularly suss out and destroy harmful entities looking to illegally get your private trade secrets.

Ultimately, though these are all useful tips when it comes to protecting your trade secrets, you should always consult with an attorney who can help ensure you take all measures possible. Once a trade secret is out, others can replicate (or even improve) what you do, which can only mean bad news for your company. Lemler IP is here to protect you. Contact the firm today for help.