Trade Secrets are business assets, considered to be a part of the intellectual property of an organization. A trade secret is considered business information that is not known to the public and gives the owner of the secret information a business advantage over its competitors, provided that the owner takes reasonable measures to protect the secrecy of the information. Once the information is available to the public, then protection expires.
Trade secrets may be obviously technical data, secret formulas and manufacturing methods, but also client lists, sales and pricing information and business plans may be considered trade secrets if they provide commercial advantage to the owner. It is vital for any organization to develop meaningful ways to safeguard its secret business information.
We at Hanni Rosenzweig & Co. guide our clients
through the process necessary to protect their trade secrets: determining
the nature of the secret information and taking the necessary precautions.
This includes developing a working strategy; implementing proceedings
for all company areas and having employees sign confidentiality agreements.