Intellectual property rights provide intangible yet valuable assets that multinationals can leverage in the 21st century. One such exclusive property right is trade secrets. Almost every business has the potential to create trade secrets. What is a trade secret and how can companies acquire and, more importantly, protect these intellectual property rights?
Joining Michael for this conversation is Robert Friedman, who provides a roadmap for employers looking to properly care for, protect, and possibly defend their company trade secrets.
Robert is a partner and Practice Group Leader of the Business Trial Practice Group and is based in the Sheppard Mullin New York office. He is also head of the firm's South Asia team and a member of the White Collar and International Arbitration groups. Robert focuses on business and corporate litigation matters and internal investigations. He has tried over 70 cases and regularly represents financial institutions, technology companies, media companies and litigation trustees in significant business disputes, including those involving trade secrets, software theft, non-compete, securities and license agreements.
What We Discussed in This Episode:
- What is a trade secret?
- Is there an intersection between trade secrets and patents?
- Are there mechanical checks that companies must follow to maintain their trade secrets?
- How can companies enforce and defend against trade secret violations?
- What type of actions give rise to trade secret disputes?
- What are some considerations a potential trade secret plaintiff should consider prior to filing a complaint?
- If a company finds itself as a defendant in a trade secret lawsuit, what protocols should it follow to help their case?
- How should a company approach arbitration when dealing with international litigation?
- What are some general guidelines companies should follow to ensure proper care and protection of trade secrets?
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