Florida businesses of all types and sizes must take steps to protect closely held information that provides a competitive advantage and differentiates the company from others. Trade secrets can include everything from client lists to secret recipes, and businesses would be wise to ensure their protection and security as much as possible. A company may benefit from a careful inspection of their operations to determine the type and extent of protection that may be necessary in 2022.
Shielding important information
Avoiding litigation over trade secrets is critical whenever possible because of the public nature of court proceedings. In legal disputes over trade secrets, courts must determine whether the information in question qualifies as a protected trade secret and if it has been lost. The plaintiff may not achieve a successful outcome if there is not enough evidence the business made a reasonable effort in security and protection measures.
Reasonable efforts to protect trade secrets may include nondisclosure clauses in employment contracts and more. Those with access to closely held information should be aware of all confidentiality requirements. Noncompete agreements, restricted access to certain information and careful employee screening are all steps that a court would consider a reasonable effort in the protection of their trade secrets.
It is prudent to take whatever steps are necessary to avoid trade secrets disputes whenever possible. It will be helpful to work with an experienced Florida business law attorney to determine the protections necessary for the individual situation. After the loss or compromise of a trade secret, quick action is critical to prevent additional harm.