There are opportune times to “harvest” — meaning, identify and inventory — trade secrets. If a company recognizes and takes advantage of those opportunities, then developing a robust trade secret portfolio should become considerably more manageable. For example, suppose that a company develops a product. Consistent with company policy and practice, the employees who developed […]
Momentum for Trade Secret Legislation on Both Sides of the Atlantic
Product of R&D. Significant component of a balanced IP portfolio. Economic driver. In homage to Jeopardy!®, “What are trade secrets?” Right! “Trade secrets” is also the answer to the following question: what type of IP is currently garnering significant attention from both U.S. and European legislators? More specifically, U.S. and European legislative bodies are proposing […]
Another Real World Analogy: Trade Secrets and Works of Art
Intangible assets (namely, trade secrets) often can be more easily understood when analogized to tangible assets (for example, works of art) with which people are familiar. To that end, the theme of Ocean Tomo’s 2013 Trade Secret Management & Monetization Symposium was “Trade Secrets: Valuable, but Vulnerable, IP Assets.” That same general theme — valuable, […]
Can Hollywood Teach Trade Secret Owners About Protective Measures? Absolutely!
Recently, the Wall Street Journal reported on protective measures that studios and producers take to prevent scripts (and screenplays) from being publicly disclosed. (Ben Fritz, “Hollywood’s Latest Thriller: How to Keep Scripts Secret,” 10/14/13 WSJ, A1, A12.) Those measures provide an exemplary framework for protecting scripts and an exemplary starting point for protecting trade secrets. […]
You Just Learned That Your Trade Secret Has Been Stolen; What Is The First Thing That You Should Do?
You protect your trade secrets. Nevertheless, you just learned that a former employee, who recently resigned, has stolen one of your trade secrets. What is the first thing that you should do? Immediately attempt to retrieve the trade secret. (Attempted retrieval should be the first step in the company’s trade secret misappropriation response protocol, which […]
Trade Secret Valuation Can Be Part of Effective Trade Secret Management
If one of your trade secrets is stolen, are you prepared to promptly respond? In particular, are you prepared to promptly (1) investigate the theft, (2) attempt to prevent the loss of the trade secret (through, e.g., unauthorized public disclosure), (3) attempt to mitigate or avoid other harm to your operations and (4) pursue appropriate […]
Recent Trade Secret Symposium Confirmed That Trade Secrets Are The New Black And That Trade Secret Owners Now (Finally) Know It
Trade secret misappropriators — including cyber-thieves — have been ahead of the curve. For quite some time, they have appreciated just how valuable companies’ trade secrets are. Indeed, that is why they have been aggressively stealing those assets. Trade secret owners are finally catching up and catching on, in terms of measures to protect their […]
Trade Secret Owners, Beware: For An NDA Notice Provision, A Follow-Up Should Be A Layup
Parties contemplating a transaction involving trade secrets often enter into a confidentiality or non-disclosure agreement (NDA) in order to facilitate, if not allow, meaningful dialogue. All of the parties to an NDA shoulder important obligations. Indeed, as a recent decision by the U.S. Court of Appeals for the Federal Circuit shows, a trade secret owner’s […]