Business owners across Pennsylvania have business secrets they want to protect. But knowing how to protect these secrets involves knowing exactly what they are. Michael J. Betts is here to help you identify and protect your trade secrets.
First of all, it’s important to know what a trade secret is. A trade secret can be any sort of confidential business information that would provide you with some sort of unique competitive edge. It’s dangerous for these secrets to get into the hands of others because this can take that edge away, thus removing what makes you stand out from your competition.
Trade secrets can be leaked in a number of ways. However, some of the most common leaks involve the actions of disgruntled employees. For example, if someone was let go and believes that the decision was unfair, they may decide to let out their anger and frustration by giving your information away intentionally. They can be hired into a competitor’s company where they provide details about the behind-the-scenes operations of yours, giving the competitor insight into how you handle things.
Of course, if the employee signed a non-compete agreement, this sort of information sharing is illegal. Because you could suffer some severe financial loss due to any of your trade secrets being leaked, it is not uncommon for people in your situation to decide to seek compensation for any potential damages.
If you are a business owner who has trade secrets that need protecting, consider taking a look at our web page on trade secrets, linked here.