Trade Secrets

What are trade secrets? Trade secrets are an alternative form of protection to patents. Trade secrets may also protect valuable business assets that are not appropriate subject matter for a patent. Properly maintained trade secrets may offer considerable protection. One of the most famous examples of trade secret protection is the formula for the natural flavor ingredients in the Coka-Cola beverage (trademark Coke). Other kinds of information that lend themselves to trade secret protection include customer lists, non-public pricing information, and some types of software. Trade secret protection lasts indefinitely, but it is lost if someone discovers the secret by legitimate means. Trade secret misappropriation, however, is actionable, and the owner of the trade secret may sue to stop the use of the trade secret and/or for monetary damages. To keep something a trade secret, proper procedures must be followed and access to the trade secret information restricted. I can help you develop a plan and procedures for properly maintaining your trade secrets and draft appropriate confidentiality, non-disclosure and non-compete agreements for your employees, business partners and suppliers.

If you wish to discuss your intellectual property matter, including patent, international patent, copyright, trademark, trade secret, or licensing, contact Leo Mikityanskiy today at 718-256-3210.