Trade secrets

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Learn what is a tradesecret and

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Trade secrets

  1. 1. TRADESECRETS<br />AGRAWAL LAW FIRM, LLC<br />8333 OLIVE BOULEVARD<br />ST. LOUIS, MISSOURI 63132<br />314-566-9294<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  2. 2. THE AGRAWAL LAW FIRMOVERVIEW- TRADE SECRET<br />A trade secret may consist of any formula, pattern, physical device, idea, process or compilation of information that:<br />provides a competitive advantage in the marketplace, and<br />is kept secret to prevent the public or competitors from learning about it, absent improper acquisition or theft.<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  3. 3. THE AGRAWAL LAW FIRM<br />What is a Trade Secret?<br />A trade secret may consist of any formula, pattern, physical device, idea, process or compilation of information that:<br />provides a competitive advantage in the marketplace, and<br />is kept secret to prevent the public or competitors from learning about it, absent improper acquisition or theft.<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  4. 4. AGRAWAL LAW FIRMTRADE SECRETS<br />EXAMPLES OF POTENTIAL TRADE SECRETS<br />a new invention for which a patent application has not yet been filed <br />manufacturing techniques<br />computer algorithms<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  5. 5. AGRAWAL LAW FIRMTRADE SECRETS<br />HOW LONG DOES TRADE SECRET PROTECTION LAST?<br />Trade secret protection lasts while the secret is kept confidential. <br />Trade Secret protection ends when it is disclosed to the public.<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  6. 6. AGRAWAL LAW FIRM TRADE SECRET<br />HOW TO PROTECT YOUR COMPANY<br />1) HAVE ALL EMPLOYEES AND THIRD PARTIES SIGN NON-DISCLOSURE AND CONFIDENTIALITY AGREEMENTS<br />2) HAVE LIMITED NUMBER OF EMPLOYEES KNOW THE TRADE SECRET -- NEED TO KNOW BASIS ONLY<br />3) USE NON-COMPETE CONTRACTS FOR EMPLOYEES HAVING KNOWLEDGE OF THE TRADE SECRET<br />4) STAMP DOCUMENTS WITH “CONFIDENTIAL” OR “PROPRIETARY” <br />5) SEPARATE TRADE SECRET IN VARIOUS PARTS OF COMPANY SO NO ONE PERSON KNOWS IT<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  7. 7. AGRAWAL LAW FIRM TRADE SECRET<br />6) INSTALL VISITOR CONTROL SYSTEMS – SIGN IN AND SIGN OUT; EMPLOYESS WEAR BADGES<br />7) KEEP DRAWERS AND AREASTHAT KEEP PROPRIETARY INFORMATION LOCKED<br />8) MAINTAIN POLICIES FOR DESTRUCTION OF DOCUMENTS<br />9) HAVE REGULAR MEETING WITH EMPLOYEES REMINDING OF THEIR DUTY OF CONFIDENTIALITY<br />10) HAVE EXIT INTERVIEWS WITH EMPLOYEES REMINDING THEM OF THEIR DUTY OF CONFIDENTIALITY<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  8. 8. AGRAWAL LAW FIRMTRADE SECRETS<br />TRADE SECRET VS. PATENTS<br /> PATENT - TERM OF PROTECTION OF 20 YEARS<br />PATENT APPLICATION IS PUBLISHED, SECRECY IS LOST<br />CANNOT HIDE CONFIDENTIAL INFORMATION<br />REQUIRES WRITTEN DESCRIPTION AND “BEST MODE”<br />TRADE SECRET HAS NO TERM, AS LONG AS THE SECRET IS MAINTAINED (E.G., COCA COLA FORMULA)<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />
  9. 9. AGRAWAL LAW FIRMTRADE SECRETS<br />A PERSON CAN INDEPENDENTLY REVERSE ENGINEER A TRADE SECRET<br />PATENTS PROVIDE MORE PROTECTION BUT FOR A SHORTER PERIOD<br />TRADE SECRET – ONLY SUE FOR MISAPPROPRIATION AND USE.<br />© 2010 AGRAWAL LAW FIRM, LLC. ALL RIGHTS RESERVED.<br />

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