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Businesses must take steps to protect trade secrets

On Behalf of | Dec 30, 2021 | Business Law Litigation

A Florida business would be wise to take the appropriate measures to protect its valuable assets, but it should move to protect intangible assets as well. Trade secrets and intellectual property are incredibly valuable, and they merit the same amount of protection as physical property. There are specific steps companies can take that will allow a business to effectively protect its trade secrets. 

Steps to fully protect these assets 

There are specific steps a business may find helpful if it wishes to fully protect its trade secrets. Trade secrets include intellectual property such as secret formulas, proprietary processes, client lists and other intangible things that may provide a competitive advantage. Protection can start with the following steps: 

  • Identify the specific assets and trade secrets that need protection. 
  • Carefully label and securely store all documents that contain private information. 
  • Secure all computers that contain private information. 
  • Have processes in place that allow the business to maintain privacy with vendors. 
  • Be careful with the number of employees that may have access to trade secrets. 

Legal protection of trade secrets is critical. In the event they are illegally or inappropriately accessed, a business has the right to seek legal recourse in order to stop continued damage and secure compensation. 

Fighting for the best possible outcome 

A Florida business has the right to protect its intangible assets in the same way it can protect its physical property. An assessment of the needs and objectives of the business can reveal the specific protections that may be necessary. An attorney can provide insight into how a company can best shield its business interests and trade secrets.  

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