Do trade secrets require filing with a state or federal government agency?
If you have a unique formula or process that is the core of your business, you most likely have a trade secret that needs to be kept confidential from other similar businesses. There are no government forms or processes in place for protecting trade secrets; your business is responsible for protecting this information on your own.
However, you are not completely alone in protecting your trade secret. California business law attorneys are experienced in helping businesses develop a system of confidentiality and protection for their trade secrets.
What is a Trade Secret?
Trade secrets are considered to be information that a business keeps confidential as it gives them an advantage over the competition. The formula for Coca-Cola is one of the most famously kept trade secrets and has managed to be kept confidential for over 100 years.
Why not patent the process/formula?
When a formula such as the blend of spices used in Kentucky Fried Chicken’s breading recipe is patented, the exact means to create the formula becomes public knowledge in the U.S. Patent Office’s patent database. If your process or formula is vital to the operation of your business, you would not want to make this information publically known.
The process of protecting a trade secret was developed to maintain strict use of the formula/process by the parent company only without fear of near replication or having to bother with offers to buy the patent rights. The biggest danger of not patenting is that there is a chance someone will reverse-engineer your formula or process and then be able to patent it on their own.
Protecting a Trade Secret
The measures a business goes through to protect a trade secret can go from complicated to absurd. California business law attorneys can help your business identify and work on protecting your trade secret without even having to reveal it to the attorneys themselves.
Some of the most common guidelines California business law attorneys give for protecting trade secrets include:
- Mark all documentation about the trade secret with confidentiality warnings.
- Restrict access to the information to only those who have a reason to know it.
- Make all holders of the trade secret (or even part) sign a non-disclosure agreement.
- Keep physical trade secret information in a restricted and secured area.
Hiring California Business Law Attorneys
There are many methods for protecting a trade secret and the help of California business law attorneys can be invaluable with regard to the core processes of your business.
The California business law attorneys at the Adli Law Group P.C. have formed lasting relationships with businesses across Los Angeles County and around the globe. Contact us today for experienced help with protecting your trademarks – 213-223-2365.