Trade Secret Attorney Serving Knoxville and Throughout Tennessee
A “trade secret” is defined as any confidential formula, pattern, plan, etc. that could, if disclosed, benefit a business. A trade secret can be something written down and stored in a safe somewhere or on a computer hard drive. A couple of good examples would be the formula for Coca-Cola, or the famous “11 herbs and spices” used to make Kentucky Fried Chicken.
Trade secrets are not registered like copyrights, patents or trademarks, thus there is no limit to the time the owners can keep them secret or retain exclusive rights. Oat the same time, disclosure of trade secrets can seriously harm the company whose secret gets out and greatly benefit the company who obtains it. Once again, consider soft drinks. If someone steals or buys the secret formula of any popular soft drink and makes and sells it cheaper than the original company, the originator of the secret formula could lose a lot of business and money, while the competitor’s company makes a fortune.
Tennessee Trade Secret Lawyer: Defense Against Serious Criminal Charges
How do you protect trade secrets? Besides locking them in a safe, storing them in a secure computer, and/or limiting access to them, you can also use confidentiality agreements. Legal contracts between companies and their employees or suppliers, confidentiality agreements establish limits on the use of confidential information and the consequences of violations of the agreements.
If you believe that you have information in your business that you need to protect, call The Law Offices Of James A.H. Bell, P.C. We can help you prepare confidentiality agreements to protect your trade secrets. If you feel that one of your employees has stolen trade secrets from your business, we can help you analyze the situation to determine