Protection of Trade Secret in your business

Every business owner that seeks to grow his company/business must have a strategy or plan to achieve the goals. The strategy or plan is what's called TRADE SECRET.

Trade Secrets are very delicate in nature. Once its exposed, it can be used by your competition & you cannot sue them for it because it is no longer a secret at that point. So for the sake of your business, trade secret should be protected dearly.

There are ways to protect your trade secret but due to the delicate & slimy nature of trade secret, certain measures ought to be taken to ensure that it is well protected. Here are 5 protective measures:

1. Secure everything relating to your business & restrict both employees & visitors to areas where trade secrets are kept.

2. Legally monitor business related channels of communication

3. Develop Confidentiality policies as well as educate the staffs on the importance of the trade secret, its management & the professional consequences if leaked.

4. Conduct checks to ensure compliance with corporate policies relating to the trades secret.

5. Conduct exist interviews with departing employees, secure the return of all information and electronic equipment & remind them of their NDAs or whatever contract they entered with you as well as their obligations to maintain the confidentiality of the trade secret.