Phoenix Trade Secrets Attorneys Uphold Clients’ Rights
Firm offers comprehensive legal support to protect company assets and prevent losses
Where does your company get its competitive advantage? Technology changes quickly and even patents expire. You might say your strength is in your people, but many will move on and even your most loyal employees will one day retire. Whether your particular edge happens to be a formula, a recipe, a process or customer information, that proprietary material gives you a leg up. If those trade secrets were ever disclosed, you’d be at the mercy of your competitors. At the Law Offices of Donald W. Hudspeth P.C. in Phoenix, our business lawyers know the value of trade secrets. We provide insightful advice and effective advocacy when necessary to avert or limit the damage stemming from the misappropriation of commercial secrets.
What are trade secrets and how can you best protect them?
A trade secret is any bit of information that confers a competitive advantage because it is not generally known or easily discernible. Trade secrets are unique intellectual property assets, because you don’t have to register them, and they never expire. However, the onus is on you to treat them as secrets and keep that information secure. Our business attorneys provide advice on strategies for protecting trade secrets, which include:
- Security measures — To gain legal recognition for a trade secret, you must have protocols in place to prevent the information from getting out.
- Non-disclosure agreements — When you hire someone or conduct business with someone from outside your organization, you might have to reveal some facts regarding your company’s inner workings. A non-disclosure agreement establishes legal consequences for people who improperly share information they obtain in the course of working with your business.
- Covenants not to compete — Select employees need to know company secrets to perform their jobs. A non-compete agreement prohibits them from using your proprietary information for their own purposes after they leave your employment.
Establishing clear guidelines relating to proprietary information gives you the opportunity to enforce your rights if a problem arises. We help put protocols in place that allow for swift, decisive legal action when necessary.
Skillful litigators take on trade secret misappropriation cases
In 2016, Congress passed the Defend Trade Secrets Act, also known as the U.S. Trade Secrets Act to establish uniform protection for trade secrets across the nation. DTSA creates a federal cause of action for trade secret misappropriation. Under the statute, a trade secret is defined as any information that has commercial value because it is not widely known or easily detected. Because of DTSA, victims of trade-secret theft can sue to prohibit exploitation of the improperly obtained trade secret and to recover monetary damages stemming from the theft, such as the victim company’s losses and/or the defendant’s unjust enrichment.
However, action under DTSA must be swift to be effective. Once a trade secret is released to the public, it can lose all its value. For that reason, we advise client companies on a wide range of protocols that enforce secrecy and lay the groundwork for future action.
Contact our Phoenix law firm for advice on protecting trade secrets
Law Offices of Donald W. Hudspeth P.C. in Phoenix gives businesses the information and advocacy they need to protect their valuable trade secrets. To speak with an experienced trade secret attorney, call our office at 866-696-2033 or contact us online. Located in midtown Phoenix, our office is easily accessed by light rail or car, with plenty of available parking.