Trade secrets are fundamental to the American marketplace. Dr. Pepper’s 27 flavors, Kentucky Fried Chicken’s 13 herbs and spices — these formulas are essential to brand identity and are a core element of product marketing. These are just a couple of well-known examples, but trade secrets are common in many industries, which is why trade secrets lawyers are so important.
COFFYLAW’s Newark, NJ trade secrets lawyers are invaluable partners in helping organizations protect their trade secrets from data exfiltration that can negatively impact your position in the marketplace.
What Are Trade Secrets?
Trade secrets are any confidential plans, formulas, or patterns that may harm or benefit a business if it was disclosed publicly or to a competitor. They might include recipes, customer lists, sales strategies, business methods, or anything else that is essential to your business’s success.
Unlike trademarks or patents, trade secrets are not registered — an important qualifier that both raises the need for secrecy and limits legal protections. Owners of trade secrets do not have a specific limit on how long they may retain exclusive rights to trade secrets, which makes trade secret theft particularly complex.
Companies work hard to protect trade secrets for good reason. New Jersey law also protects employers from trade secret misappropriation. As such, it’s important to consult our trade secrets lawyers in Newark, NJ.
Trade Secret Theft
Businesses must take action to protect against the accidental or intentional disclosure of trade secrets. Internal training in security and data handling best practices can improve employee compliance and mitigate the risk of secrets being accidentally or intentionally revealed by both current and former employees.
However, legal consultation plays an important role in fortifying your protections against trade secret theft. Trade secrets lawyers can assist your organization by creating nondisclosure agreements, protecting preliminary discussions with vendors and other third-parties with confidentiality agreements, and with basic strategies to improve your organizational security.
Our trade secret lawyers in Newark, NJ can also assist in litigation against those who misappropriate or steal trade secrets from your company. In a world in which people are changing jobs more than ever and competitors are eager to carve out a competitive advantage, it’s vital to develop security measures to protect trade secrets and be prepared to take appropriate legal action against those who violate them.
Contact Our Trade Secrets Lawyer Newark, NJ
Losing trade secrets can cost your company huge sums of money and even cause reputational harm. Moreover, it can risk your standing in the marketplace and have long-term consequences for your business.
There’s a reason why companies go to such great lengths to protect trade secrets, and why it’s so vital to employ legal counsel in protecting trade secrets.
Coffy Law’s experienced legal team can help your company develop a security strategy to protect trade secrets both internally and when working with external partners. Moreover, our lawyers will provide you with the ability to mount a tenacious defense against those who misappropriate or steal trade secrets.
Your company’s trade secrets must stay secret. Contact our Newark, NJ trade secrets lawyer to begin working on a strategy today.