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Corporate Confidentiality Agreements and Trade Secrets
Have you reviewed and assessed the strength of your corporate confidentiality agreements lately? If an unfortunate instance of possible or actual misappropriation of corporate trade secrets, proprietary knowledge or confidential information were to occur, can the company demonstrate that it took reasonable efforts under the circumstances to maintain the secrecy and confidentiality of the information that has been misappropriated?
Trade secrets are often a vital and essential aspect of an entity’s continuing viability and success, which is why companies should routinely evaluate, examine, and assess the measures that have been established to ensure the protection of valuable trade secrets and know-how. Among other things, a company should make sure that employees understand and agree to protect its trade secrets, confidential information and proprietary knowledge. Furthermore, companies should take steps to protect valuable trade secrets and confidential information in dealings with third parties, including independent contractors. As in-house counsel, it can sometimes be difficult to know what the first steps should be to protect your company’s trade secrets and integrate these principles into employees’ daily workflow.
Lexis® Practice Advisor, Corporate Counsel is a great starting point for getting up to speed on confidentiality agreements and trade secrets. Lexis Practice Advisor provides in-house attorneys with practical guidance, model forms, legal analysis and emerging issues content specifically for transactional matters. The guidance within the Corporate Counsel offering is written and enhanced by practicing attorneys and in-house counsel, providing perspective and insight across a broad range of practice areas. When looking to reassess your confidentiality agreements or standardize the protection of your company’s trade secrets, the Corporate Counsel offering can serve as a starting point and guide you through the drafting and completion processes.
Learn more about Lexis Practice Advisor, Corporate Counsel at: http://www.lexisnexis.com/en-us/products/lexis-practice-advisor.page