You’ve been developing a business strategy for years now and it has recently come to fruition. The foundation of your business is founded upon your unique methods, designs and processes. In other words, your trade secrets are the key to the success of your company.
The corporate world is highly protected and you’re worried about competitors gaining access to your intellectual property. What steps can you take to protect your trade secrets?
Train your staff properly
You may have a staff handbook and other pieces of paperwork that set out how important the intellectual property of the company is. However, engaging training days are often a better way to get employees to absorb information. This is especially important for new recruits, although refresher courses can be useful for your existing team members.
Limit who has the information
It might be worth considering whether all of your staff really need to know your most important trade secrets. Is it enough for you to be the only person with access to them? Are there a few members of your management team that you can trust to keep trade secrets within a small circle? At the end of the day, the fewer people who know, the less likely it is that a leak will occur.
Your legal options
It’s beneficial for both you and your employees to have sound employment contracts in place. You also have the option to include a non-disclosure agreement as part of the terms, which will help to protect the business. Seeking some legal advice will help you to assess all of your options in terms of protecting your intellectual property.