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Tampa Business Litigation Attorneys / Tampa Trade Secrets Attorney

Tampa Trade Secrets Attorney

Companies of all sizes have many different types of intellectual property. Among them all, trade secrets are perhaps the most valuable. Trade secrets can include chemical formulas, business plans, client lists, recipes, and more. A trade secret is essentially what makes a business stand out among its competitors. For example, the formula behind Coca-Cola is the company’s most valuable asset because it is the reason consumers purchase their beverages over the competition.

Coca-Cola guards the recipe for their product very carefully, and other businesses should take their trade secrets just as seriously. Below, our Tampa trade secrets attorney outlines how this important information can become exposed, and how you can protect this confidential information.

How are Trade Secrets Exposed?

There are many ways trade secrets can become exposed, but some are more common than others. These are as follows:

  • Accidental sharing of information: Trade secrets are accidentally shared more often than people think. For example, two co-workers may eat lunch together and one shares a trade secret, thinking the other is already aware of it. Or, someone may take a picture while on the job, and the photo may show a trade secret.
  • Misappropriation by former employees: When employees, particularly those who held a position of authority, leave a company they take with them the knowledge and experience of working for a certain company. An employee may use a former employer’s trade secrets to start their own company, or to work for the competition.
  • Stolen information: While not as common, competitors can also steal trade secrets. They may hack into the company’s computer system, or gain trade secrets by other means.

How to Protect Trade Secrets

It may seem as though there is no way to guarantee the confidentiality of your trade secrets, but that is not true. Businesses have many options that can protect this confidential information, including:

  • Identify the trade secrets: You cannot protect your trade secrets unless you identify what exactly you want to protect. Identify how the trade secrets are exclusive to your company and the steps you have taken to protect them.
  • Draft a contract: A non-disclosure agreement is a legal contract that prohibits current and former employees from disclosing certain information about the company they previously worked for. The NDA should state the trade secrets that are protected, and the penalties for violating the contract.
  • Other tactics: There are many other tactics you can use to protect your trade secrets. These include labeling all trade secrets as confidential, educating your workforce about the importance of protecting trade secrets and how to do it, and selecting only key employees who will have access to the trade secrets.

Our Trade Secrets Attorney in Tampa Can Protect Your Trade Secrets

Whether you need to draft an NDA to protect confidential information, or you have a dispute regarding the exposure of trade secrets, you need legal help. At BBDG Law, our Tampa trade secrets attorney can provide it. We can draft the legal documents you need to protect sensitive information, or take legal action against any employee that has exposed it. Call us now at (813) 221-3759 or contact us online to schedule a consultation and to learn more.