How can you keep your trade secrets safe?

Glenn W. Peterson

Most business owners in California are just like you. They have trade secrets that they protect in order to ensure that their business flourishes. But how do you keep those secrets under wrap? It can be a difficult task, especially as your business continues to grow and gain more employees.

The U.S. Small Business Administration suggests that you take certain steps toward securing your business and trade secrets. There’s an emphasis on the actions that can be taken to encrypt and secure the information itself, and also how you handle presenting these secrets to your staff.

First of all, after having identified what your trade secrets are, you need to work out a method of concealment that works best for you. To some, this means writing the secrets down on paper and keeping them in a lock box that only a select few have access to. For others, it means hiring tech experts to encrypt your data and monitor it for any potential hacks. The more tightly-wrapped your biggest trade secrets are, the less likely they are to be spilled.

But what about those secrets that you have to share with employees? In those situations, it’s important for your workers to understand what’s on the line for you and them. Make sure it’s clear what the secrets are. Have them sign a nondisclosure agreement once they’re hired that will remain in effect even after they leave your company. This legal security will help ensure that everyone understands the weight of your trade secrets.

Unfortunately, not every leak can be prevented. If you’ve been the victim of a trade secret leak, you may want to contact an attorney to see what your legal options are.