Some of the most important assets owned by a business are those that pertain to the specific details, processes and information that provide the company its competitive advantage. Trade secrets can include various types of proprietary information, and the misuse of this information can be devastating for a Florida business. Recently, an engineer who worked for Apple admitted to stealing trade secrets from the trade giant.
The impact of trade secret theft
A company has the right to tenaciously defend its interests in the event of a theft of trade secrets. The information taken pertained to Apple’s efforts to develop a self-driving vehicle. The engineer pleaded guilty, and the individual is one of two accused of the theft. The inappropriate use of trade secrets exposes a business to the potential of financial loss and other complications.
The prosecutors in the case say that the engineer took downloaded information to which he has access through his role at Apple. They say that he had the intent of taking the stolen information to a Chinese start-up tech company, and he had even booked his flight to China. He was arrested before he boarded his flight.
Protecting a company’s interests
The theft of trade secrets is a serious matter than can put companies in difficult positions. It is critical for a Florida business to take the appropriate steps to protect their trade secrets and other important information. An experienced business law attorney can provide insight regarding the most effective protections that will benefit a specific company.