This is a trade secret

Many companies know they must protect their brand; however, there are also other valuable assets that must be safeguarded. This is known as a trade secret, that is, any information or technological, scientific, industrial, commercial, organizational, or financial knowledge that has business value (such as a secret formula, business data, etc.). trade secret , that is, all information or technological, scientific, industrial, commercial, organizational, or financial knowledge that has business value (such as a secret formula, business data, etc.).

In addition, for this knowledge or information to be considered a trade secret, it must meet the following requirements:

• It must be secret, that is, known by a limited number of people.

• It must be protected by reasonable and specific internal measures to ensure it remains secret.

Therefore, in order to protect these secrets, you must implement reasonable and specific protection measures. Therefore:

• Clearly identify the secret being protected. It cannot be something vague like "customer base"; it must be specified (with a list, for example).

• Likewise, you must adopt both physical (access control, secure location, etc.) and legal security measures. To do this, use confidentiality clauses and require anyone with access to the trade secret (employees, suppliers, customers, etc.) to sign them.

It is also advisable to develop an action protocol in case there is an attack on the trade secret; for example, conducting an internal investigation, reporting the incident to the police, initiating legal actions, etc.

If, in any case, a third party accesses your secrets (through theft, industrial espionage, etc.), you may request the cessation of the use of these secrets, keep the products manufactured at the expense of these secrets (if applicable), and claim compensation.

 

Our professionals will advise you and help you take the appropriate measures to protect your trade secret, as well as, if necessary, to take legal action in defense of them.