Proprietary information is one of the most important types of assets owned by a Florida business. Intangible assets can include client lists, secret formulas, secret processes and more, and it is critical to shield these assets from theft and unauthorized access. Companies will benefit from having processes and protections in place that will reduce the chance of an issue with their trade secrets or important information ending up in the wrong place. One way trade secret violations often happen is through the departure of employees.
When employees leave
Employees may not work for one company forever, but when they find a new job, they may take important information and experience to a competing business. Through the terms of an employment agreement, specifically a non-disclosure or non-complete clause, a company can protect its interests when employees leave. Properly conducted exit interviews allow a business to ensure a departing employee understands the terms of the agreement and penalties if a violation occurs.
In the event of the theft of trade secrets or the unauthorized access to secure information, there are options available to a Florida business. One option is to pursue a remedy through the civil justice system. However, if an investigation reveals illegal action on the part of an employee or competing company, more serious action may be necessary.
Start with the right protections
Trade secret violations are often preventable. A business owner may find it beneficial to speak with an attorney about ways to increase security and appropriate legal steps necessary for protection. As each company is different, an individual assessment is a practical place to start this process.