Our Trade Secrets Attorneys Can Help Protect Your Business’s Confidential Information

Trade secrets consist of any formula, pattern, device or compilation of information used in a business that gives the business an opportunity to obtain an advantage over competitors. Simply put, a trade secret might be anything a business would not want a competitor to know. Customer lists, supplier lists, business plans, methods of doing business, secret formulas or proprietary databases could constitute trade secrets. At Morgan Williamson LLP, our trade secret attorneys have extensive experience in these matters. We can provide advice and develop a legal strategy for protecting your trade secrets.

To discuss your trade secret protection needs, contact an intellectual property lawyer at Morgan Williamson LLP. Call us in Amarillo at 806-705-7546 or complete our contact form. Our trade secret attorneys advise and represent clients throughout Texas and beyond.

Legal Strategies To Safeguard Trade Secrets And Confidential Business Information

A business, as an owner of trade secrets, must take affirmative measures to safeguard its proprietary information and intellectual property. If a dispute were to arise over a business’s trade secrets, a court would critically analyze the efforts the business took to protect its trade secrets. Such efforts could include the following:

• Draft, negotiate and enforce noncompete agreements. These agreements prevent an employee from competing against the company after employment ends. These agreements are typically limited to a geographic area and a limited period of time.
• Establish written trade secrets policies. The policies should generally outline the nature of your business’s trade secrets and stress the company’s policies for maintaining confidentiality.
• Restrict access to trade secrets. If possible, the business should physically segregate trade secrets from other information and restrict access to the former.
• Maintain physical security of the business’s facilities. The business should institute security measures, including the use of locks on desks, cabinets and rooms that house trade secrets. The business should employ special security measures to restrict access to trade secret information stored on computer systems.
• Label trade secret documents. Documents containing trade secrets are of particular concern because they can be easily removed or secretly photocopied. A business should clearly label trade secret documents with a confidentiality notice and instruct all employees as to the meaning of the designation. When such documents are no longer necessary, they should be shredded.
• Limit the public’s accessibility to trade secrets. A company should exclude the public from those areas in which trade secrets are located.
• Screen speeches and publications. It is not uncommon for businesses to disclose trade secrets at trade shows, in magazine articles, publications or press releases and during public speeches. A business should screen all publications, articles and speeches prior to dissemination.
• Use nondisclosure agreements when dealing with third parties. Situations will arise in which a business will find it necessary to disclose trade secrets to prospective buyers, licensees, joint venturers or other third parties. All third parties should sign a written confidentiality agreement before any trade secrets are revealed.

Discuss your trade secret protection needs with one of our intellectual property lawyers today.

How Can You Proactively Protect Your Business’s Confidential Information?

Once your business’s trade secrets slip into the wrong hands, your competitive edge may disappear overnight. Under the Texas Uniform Trade Secrets Act, businesses must take reasonable efforts to maintain the secrecy of their trade secrets. Without these measures, even highly valuable information may not qualify for legal protection.

Our business law attorneys help business owners protect their confidential information in Amarillo, Texas Panhandle and the entire Northwest Texas. We help implement protections such as:

• Security guards: On-site personnel provide controlled monitoring of who enters and exits your facility.
• Password protection: Strong and regularly updated passwords limit access to sensitive files and systems. Multifactor authentication can also bring an additional protection layer.
• Encryption: Encrypting data at rest and in transit ensures that even if information is intercepted, it cannot be easily read.
• Badge access systems: Electronic access controls help restrict entry to specific rooms.
• Shredding bins: Locked shredding bins ensure that confidential materials are destroyed securely.
• Confidential stamps: Clearly labeling documents as “confidential” signals to employees that the information must be handled with care.

Our trade secrets lawyers can work closely with you to design tailored protection strategies.

What Policies Should Your Company Adopt To Protect Confidential Information?

Enforceable policies with well-defined rules, expectations and accountability help transform your business’s good intentions into legal obligations. A key starting point is limiting access to
sensitive information within the company. Beyond access control, you should adopt formal agreements and documentation, including:

• Nondisclosure agreements (NDAs): Require employees, contractors and vendors to sign nondisclosure agreements with clear legal consequences for unauthorized disclosure.
• Employee handbooks: A written document that outlines a company’s mission, policies and behavioral expectations.
• Noncompete agreements: Prevent employees from using sensitive knowledge to benefit competitors after leaving your company.
• Written confidentiality protocols: Establish step-by-step procedures for handling, storing and sharing confidential information.

Our firm can help you draft, review and implement these policies.