Some of the most valuable assets that a business can own is their trade secrets. For example, the Google Search Algorithm is considered a trade secret. While Google will often announce some changes to their formula, the exact algorithm is held top secret in part to prevent others from capitalizing on Google’s success. Given Google’s market share, this is a very valuable secret indeed.
Other incredibly valuable trade secrets include; the recipe for Coca-Cola, the recipe for Kentucky Fried Chicken, the formula for WD-40, and the “recipe” for Lena Blackburn’s baseball rubbing mud. All of these recipes and formulas have made millions upon millions of dollars for the respective brands. These are closely guarded, in some cases within physical vaults. Additionally, these trade secrets have been protected in a number of legal ways.
What is a Trade Secret?
A trade secret is defined as any valuable business information that is not generally known and is subject to reasonable efforts to preserve confidentiality. Generally speaking, a trade secret will be protected from exploitation by those who either obtain access through improper means or those who breach a promise to keep the information confidential. While virtually 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.
For that reason, when other forms of intellectual property protections are available, one should carefully weigh the benefits of relying on trade secret protection. When the best option, however, is to look at trade secret protections available according to the law the first step in the process is to connect with an attorney who understands the nuances of intellectual property law.
How Can The Law Office of Zachary Hiller Help My Business?
An experienced attorney is your advocate in all aspects of trade secrets protection. This can include; non-disclosure agreements, non-compete clauses, licensing agreements, as well as litigation should the need arise. The attorneys at the Law Office of Zachary Hiller will walk you through every option and protect your interests from beginning to end.
We understand the importance that trade secrets provide in protecting innovation and a business’ best interests. We are experienced in navigating complex, multi-party trade secret litigation in a pragmatic and effective way. Wecan help ensure that your interests are protected at every step of the process. And we will work with you personally to weigh the risks involved and implement best practices to safeguard your business. Contact us today for a free consultation to understand how the Law Offices of Zachary Hiller can help your business.
The attorneys at the Law Office of Zachary Hiller will walk you through each step and protect your interests from beginning to end.
If you have been sued, are worried about your potential liability, or want to position yourself favorably in case of a trial, Mr. Hiller will be happy to speak with you about formulating a plan to meet your legal challenges head-on.