The Ehrlich Group Offers a Service for Facilitating the Formation, Deposition, Maintenance and Enforcement of Trade-Secrets, thereby increasing the valuation of their owners before the next round of financing.
Trade-secrets are a common and powerful form of intellectual property, sometimes the most valued asset of the company. Businesses must be particularly careful when dealing with trade-secrets because, unlike the case with patents or trademarks, failure to maintain the confidentiality required for trade-secret protection, can result in a complete loss of rights.
Examples of trade secrets-include, inter alia, technical information, formulas, germlines, germplasms, reproductive materials, genetic materials, databases, methods, processes, know-how, tolerances, computer programs (typically server/cloud side), source codes, laboratory and research data, designs, improvements, product plans, SOPs and the like.
To be a trade-secret, the subject information must not be generally known to the public or to persons outside of the company. The information must be sufficiently secret to confer an actual or potential economic or business advantage or benefit upon one who possesses the information. Other/additional limitations and requirements may be imposed in different jurisdictions/cases.
In today’s increasingly competitive business climate, the need to protect proprietary technological and business information is at an all-time high. In some areas, it may be prudent to avail oneself to possibly more effective trade-secret protection as opposed to patent issuance, under which it may take years to obtain protection.
Businesses must understand the costs and benefits of different strategies for protecting intellectual property. Some forms of protection, including patent protection and trade-secret protection, overlap. Knowing when to protect valuable information as a trade-secret and when to protect it through patent procurement is vital to managing and optimizing such assets. Our patent attorneys and attorneys at law are experienced in the relative strengths and weaknesses of patent versus trade-secret protection that can help determine whether to maintain an invention as a trade-secret, seek a patent or maintain a portion thereof as a trade secret, while securing patent protection to the remainder portions.
The Ehrlich Group works with its clients to establish appropriate procedures to secure their sensitive information. When we encounter an invention or development for which the best IP protection is a trade-secret we counsel our clients how to effectively protect the trade-secret and to nevertheless generate value for the company.
The Ehrlich Group offers a service that includes:
- Identifying the trade-secret;
- Integrating the trade-secret in the IP portfolio of the client;
- Documenting the trade secret;
- Trade secret depository;
- Creating a reminder system for monitoring updates of the trade-secret;
- When needed, updating the trade-secret on a periodic basis;
- Guiding clients how to protect the trade-secret;
- Assisting clients in protecting the trade-secret;
- Forming a legal situation whereby breach of confidentiality will more likely been enforceable against a third party; and
- Guide clients of the appropriate methodology of disclosure of the trade secret during a due diligence process.
When you believe that protecting a matter as a trade-secret may be advisable,
please contact the Ehrlich Group for a strategic meeting between your company and us.