Intellectual property is the lifeblood of a small business. Having other companies learn about your way of doing things may completely eliminate the competitive advantage you need to succeed in the modern business world. So what recourse do you have if your trade secrets get leaked? Here are three things you should know.
- Breach of Contract – If you have a legally executed contract with the employee or contractor who leaked the trade secrets that required confidentiality, then you may be able to take action against the perpetrator due to a breach of contract.
- File a Lawsuit – If another company clearly is using your trade secrets and they are protected by copyrights, trademarks, or patents, you may be able to file suit against that company. This could allow you to block them from using your trade secrets against you or could result in a monetary settlement that makes it worth losing your business secrets.
- You Have to Act Fast – The longer your company’s information is out there, the tougher it is going to be to make any kind of claim against your former worker or another company that is taking advantage of the information.
Protecting Your Intellectual Property
The best way to protect your small business is to have the right contracts, copyrights, patents, and trademarks in place to discourage this kind of a leak. Poklala Law helps small business like yours to maintain their advantage through contract and agreement preparation as well as intellectual property protection. Call 1-844-695-1487 to get your brand protected today!