Trade Secret Protection

A trade secret is broadly defined as any formula, pattern, device or compilation of information which is used in a business, unknown to others, and gives the business a competitive advantage. To ensure your business secrets are secure, it is recommended that you consider working with a law firm that is experienced in trade secret protection. Shook, Hardy & Bacon L.L.P. (SHB) has a long history of trade secret protection for both individuals and companies.

Trade secret protection is often necessary regarding the following types of business information:

• Unpatented inventions and processes, unique products, future product designs/models and research projects.
• Valuable, nonpublic company documents: drawings, blueprints, laboratory notebooks, test data and training manuals.
• Marketing, purchasing, planning and customer information.
• Financial, accounting, recruiting and legal information.

Under U.S. law, trade secrets are protected by common law, state civil statutes and federal and state criminal statutes. At SHB, trade secret protection is the responsibility of our Intellectual Property Group. We are well-versed in drafting and negotiating patent, trademark and trade secret licenses. In addition, we have also prosecuted patent applications in a wide variety of technology areas.

Trade secret protection differs significantly from patent protection. Patent protection is available only for certain types of unique inventions, processes and designs. Trade secret protection is available for all types of ideas and information, so long as they are secret and provide a competitive advantage. In addition, patent protection only lasts for a set period of time, which in the U.S. is generally 20 years after the date of filing an application, while trade secret protection may last indefinitely.

Our skilled Intellectual Property Group draws on the wealth of knowledge possessed by our patent attorneys, patent agents and patent analysts to offer our clients strategic trade secret protection counseling at a cost-effective rate. If you are concerned about trade secret protection for your company, contact us today.