By: Sverre Roang

Preparing a protection plan

A better approach is to actively seek out and define the information, processes, and expertise within your company that are valuable and will remain valuable so long as they are secret. The next step is to implement a trade secret protection program. Having a solid business plan in place to protect your trade secrets allows you to: (1) more concretely identify your trade secrets; (2) decrease your risk of loss; (3) deter theft and carelessness with your valuable information; and (4) demonstrate that your company is serious about safeguarding its most valuable assets.

The type of information or material comprising the trade secret is not overly important. Trade secrets can encompass a very broad range of ideas, processes, discoveries, and information. The critical issues are how do they add value to your company and what does your company do to adequately safeguard them? This is important because protection of trade secrets is never automatic. They are protectable only if you take affirmative steps to preserve them.

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