Companies often invest a large amount of time and money creating a product and refining the manufacturing, processes, and operations. The last thing a company wants is for its competitors to get their hands on the same information. This knowledge is what is giving one company the market dominance and market share over its competition.
Companies have been known to obtain trade secrets using industrial espionage and other illegal measures. Every company should learn how protect its confidential information before it is too late.
Tips to Protect Trade Secrets:
Inventory Information - A company should take inventory of its significant information that gives them the edge over the competition. Maybe it's a recipe or maybe it's a process that has been crafted over the years; nevertheless, this information needs to be protected.
Craft Contracts - Have your employees sign a non-compete and non-disclosure contract. Any vendors and third parties you use in manufacturing or in any other aspect of your business should also sign a contract.
If you find out that a former employee gave your trade secrets to another competing business or started a similar business, you have legal rights to your information. An Iowa business litigation attorney can help you file a lawsuit, seek damages and fight for your rights.
The Law Offices of Brady Preston Gronlund can help protect your confidential information by working with your company and providing you with the knowledge and tools to protect your trade secrets. We have years of experience crafting contracts and have a variety of agreements to help you protect your valuable information. Contact the law firm of Brady Preston Gronlund today at (319) 866-9277 and speak with a knowledgeable Iowa business litigation attorney to find out your legal options.