Protecting Your Trade Secrets, Part I Antsy about your trade secrets when employees leave? Read these suggestions to make sure they keep mum about your business.

A departing employee may compromise trade secrets-formulas,patterns, devices or compilations of information used in yourbusiness which give you a competitive advantage.

Information as seemingly mundane as a customer list or pricingplan, or as complex as a biological invention or software program,may constitute a trade secret. To determine this, courts considerwhether anyone outside your company knows the secret, which peoplein your company know it, what measures were taken to maintainsecrecy, the value of the information, and how easily it could belegally acquired or duplicated.

Although the law requires employees to preserve theiremployer's trade secrets, a company may have confidentialinformation that doesn't qualify for this protection. Thus,having new employees sign a nondisclosure or confidentialityagreement protecting all sensitive information is a wiseprecaution. Such an agreement can identify the information to beprotected, impress upon the employee the seriousness of theobligation, and provide critical evidence if there's ever adispute.

See our tip for Tuesday, September 26, for Part 2 of thisarticle.

Editor's Pick

A Leader's Most Powerful Tool Is Executive Capital. Here's What It Is — and How to Earn It.
One Man's Casual Side Hustle Became an International Phenomenon — And It's on Track to See $15 Million in Revenue This Year
3 Reasons to Keep Posting on LinkedIn, Even If Nobody Is Engaging With You
Why a Strong Chief Financial Officer Is Crucial for Your Franchise — and What to Look for When Hiring One

Are These 17 Biases Affecting You as a Leader? The Answer Is Likely Yes — Here's How to Address Them.

Having biases is an inherent part of being human, but that doesn't mean we don't have the responsibility to manage them and make sure they don't impact the way we lead.

Business News

The Virgin Islands Want to Serve Elon Musk a Subpoena, But They Can't Find Him

Government officials would like to talk to Tesla's owner as part of an investigation into the Jeffrey Epstein case.

Starting a Business

Is AI Opening the Door for the 100x Founder'?

We often hear the term the 10x developer — but AI is creating a startup environment that dramatically speeds up the time and reduces the resources needed to launch.

Real Estate

5 Strategies for Real Estate Investors to Survive (and Thrive!) Amid Rising Interest Rates

Rising real estate interest rates are not a reason to stress — they are an opportunity to invest.