Kate Driscoll, Nathaniel Mendell, Peter Skinner, and Christine Wong authored an article forBloomberg Lawsharing preventative measures and best practices to mitigate theft of trade secrets, along with legal remedies when a company experiences theft.
“One of the most effective steps in protecting trade secrets is also the most obvious—identify the trade secrets that need to be protected and restrict access,” the authors wrote. “This key step is often overlooked, as many companies permit most or all employees broad access to all company information.”
They added: “Of course, some people genuinely need to know your secrets—not just your employees, but also current and potential business partners and investors. Non-disclosure agreements can allow you to disclose trade secrets to employees, business partners, prospective investors, and partners pursuant to clear rules and limitations.”