Trade Secrets relate to the formulas, devices, techniques, processes, patterns, data compilations, and methods that surround patents, bring breakthrough products to market, and provide companies with a significant competitive advantage in the marketplace. Often, this type of intellectual property cannot be protected by traditional patent law, making other forms of protection more appropriate. The most effective way to protect trade secrets is first to identify what qualifies for protection and then to develop and implement corporate policies and procedures, including confidentiality and non-compete agreements, to identify trade secret rights and put the necessary safeguards in place to enforce trade secret rights. Pitts & Lake provides, among others, the following services relating to trade secrets and confidential information:
- Counseling regarding protection of trade secrets and confidential information.
- Preparing employment agreements and confidentiality agreements protecting trade secrets and confidential information.
- Counseling as to the management of information and documentation containing clients’ trade secrets and confidential information, and the management of information and documentation alleged to contain trade secrets and confidential information of others.
- Negotiating and drafting trade secret licenses, assignments, and other contracts relating to trade secrets and confidential information.
- Handling disputes and litigation relating to trade secrets and confidential information.