Protecting your company’s confidential records and information is extremely important for your business, no matter how big or small. Starting and running a business takes a lot of hard work and dedication, and if your confidential information such as contractual documents or your client list are not adequately protected, you could be at risk of this information being used to benefit your competition. The best means for protecting your company’s confidential documents is by having anyone that may have access to these confidential documents, sign a trade secrets acknowledgement that is drafted by an attorney. By the term “trade secret”, this refers to information that holds economic value for the company and that the necessary means are to be taken to keep the information confidential. In this trade secret acknowledgement, it will clearly specify which information in the company is to be deemed as confidential and what the consequences are for those that do not follow the confidentiality guidelines. Having this acknowledgement drafted by an attorney is extremely important to the effectiveness of the documents, as an experienced professional will be sure to include all necessary information to protect the specific needs of the company. Having a trade secret acknowledgement put in place, does not necessarily mean that an upset former employee will not try to use your company’s confidential documents to their new employer’s benefit, or even their own. If this becomes the case, then legal action must be taken to halt the misappropriation of your trade secrets. With the help of an experienced business attorney, a temporary restraining order and a preliminary injunction can be sought to prevent any further damages. As the trade secret holder, upon winning the case, you may be entitled to collect on treble damages and attorney fees.The protections of the Uniform Trade Secrets Act, California Civil Code §3426 et.seq. are in place without a signed agreement, but it is easier to prevent misappropriation than to remedy it. If your business ever needs trade secret advise, you should consult with a lawyer immediately to minimize the damages. Take the preventative action today and consult with an expert attorney about your trade secrets. Avoiding a dispute before it happens can save you as a business owner from a massive headache and wasted time. For additional information on Trade Secrets Protection, visit: http://www.smallbusinesslaw.org/business-litigation/trade-secret-protection/
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