Some of the most important and valuable intellectual properties are unpatented, proprietary information and trade secrets.
A trade secret can generally be described as a practice, process, design, formula, instrument, pattern or compilation of information which is not publicly known or reasonably ascertainable and by which a business can obtain an economic advantage over competitors.
Some businesses and individuals engage in illegal practices such as misappropriation of trade secrets resulting in claims of, among other, unfair competition. We regularly work with clients in monitoring how their intellectual property is used and to protect it against infringement. We counsel clients in trade secret policy development, including drafting non-disclosure and joint development agreements to allow the sharing of trade secrets with employees and business partners without destroying the integrity of the trade secrets. We also assist clients with development of outside submission policies to protect from false allegations of unfair competition or trade secret misappropriation.