Many businesses have trade secrets and confidential information important to their operations, products, and services. They can run the gamut from confidential formulas, to business and financial plans, to processes used to create goods and services. Preserving the confidentiality of such information is a critical step to protecting any trade secrets, as the old adage, “once lost, lost forever” often holds true. Applicable laws, ranging from the Uniform Trade Secrets Act (and its Connecticut counterpart), to the Federal Defend Trade Secrets Act, often come into play, and have requirements both in defining what is a trade secret, and what steps must be taken to preserve confidentiality.
Members of our Intellectual Property team are experienced in negotiating the many paths and pitfalls that arise in the realm of trade secrets and confidential information. Whether it is preparing a nondisclosure and confidentiality agreement that meets the necessary requirements for enforceability, counselling a client regarding protecting its trade secret information, or negotiating with counterparties where the disclosure of confidential information must be handled with utmost care, we regularly advice and represent our clients to protect their rights to this valuable information. Where needed, we actively protect our clients’ trade secrets, through litigation and other formal means, and know of the importance of quickly addressing any possible breaches.
By the same token, some businesses seek an anticompetitive advantage by making claims of misappropriation of questionable validity. We regularly counsel clients regarding appropriate due diligence and protective steps that can be taken to avoid or limit exposure. Where, however, our clients are forced to defend against claims relating to alleged trade secrets, we are well-versed in challenging the legal and factual underpinnings of the claims.
Whether your needs are risk management, counselling regarding procedures, or effective representation in litigation, our team stands ready to assist you and your business.