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Click here to find out moreThe concept of “trade secrets” and everything relating to them--defining what they are and how they can be used, who they can be shared with and how, understanding and valuing them, and protecting them from industrial espionage or misuse by departing employees—has always been somewhat nebulous in principle and even more so in practice. While most companies claim to have trade secrets, and need to protect those secrets to maintain their competitive advantages and unique elements, unless they are obvious secrets, such as the formula for Coca-Cola or “the Colonel’s” 11 herbs and spices, it can be difficult to document just what is a trade secret and the law will not necessarily recognize it as such. With the emergence of a worldwide economy, globalization, development of information networks capable of rapidly moving sensitive data, and the increased focus on new technology as a business driver, a company’s legal advisors must now play critical roles in identifying and securing its trade secrets. Join Foley & Lardner LLP partners Aaron Tantleff and Christopher Ward as they discuss what makes trade secret issues so complicated from a legal perspective and how federal legislators are beginning to understand how critical trade secret protection has become and what the future potentially holds for trade secret law in the United States.
