Trade Secrets Aren’t Meant to be Shared
As society becomes more mobile and markets more global, it’s more important than ever to guard your company’s trade secrets.
Tightly-held trade secrets—say, the recipe for Coca-Cola or TechForward’s electronics buyback-calculating software—can fly the coop in a heartbeat in this age of smartphones, flash drives and social media. Plus, there’s always “sharing” things remembered or scribbled down. If a former partner, disgruntled employee or bribable confidant chooses to reveal what’s behind the curtain to your industry rival, or even appropriate it for themselves, you could be waving good-bye to your competitive advantage and all the associated profits.
But Once the Secret’s Out, You Better Make a Move
It took herculean efforts to develop your products and services, distribution, customer relationships, and operations. If someone takes your new technology, customers, and other sensitive information, time is of the essence. You need to act now to stem the damage.
A trade secrets portfolio can be more valuable than all your other intellectual property—including copyrights, trademarks and patents—combined. The good news is, there are many legal tools available, like temporary and permanent injunctions, that can limit the harm and see that you’re fairly compensated.
And we have the toolbox to do the job. At Nexio, our attorneys are well versed in both federal and state trade secret law. Whether or not someone knowingly uses or acquires your trade secrets without consent, you have rights that can entitle you to halt the damage, prosecute the thieves, seek penalties for misappropriation, and win compensation. Put us to work for you and reclaim what’s rightfully yours!
Some notable trade secret cases our attorneys have litigated include:
A trade secret case with a $7 million jury verdict for the client who had been damaged when former employees used the company’s trade secrets to steal customers.
A trade secret case with a $572,000 judgment for the client against a former employee (defendant) who set-up a competing company, taken numerous confidential documents.