{"id":204,"date":"2016-12-03T17:03:08","date_gmt":"2016-12-03T17:03:08","guid":{"rendered":"http:\/\/keytoip.com\/?page_id=204"},"modified":"2016-12-11T19:43:04","modified_gmt":"2016-12-11T19:43:04","slug":"tradesecrets","status":"publish","type":"page","link":"https:\/\/keytoip.com\/index.php\/tradesecrets\/","title":{"rendered":"Trade Secrets"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; text_align=&#8221;left&#8221; padding_top=&#8221;57&#8243; padding_bottom=&#8221;2&#8243; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h3 style=\"text-align: center;\">Trade Secret Elements<\/h3>\n<p>[\/vc_column_text][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221; down=&#8221;47&#8243;][vc_column_text]There are three elements needed to turn information into a trade secret.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; down=&#8221;47&#8243;][qode_icons_list_text number=&#8221;three&#8221;][qode_icon_list_text type=&#8221;text_type&#8221; line_between_circles=&#8221;with_line&#8221; text_in_circle=&#8221;01&#8243; title=&#8221;Secret&#8221; text=&#8221;It&#8217;s in the name.&#8221;][qode_icon_list_text type=&#8221;text_type&#8221; line_between_circles=&#8221;with_line&#8221; icon_animation=&#8221;q_icon_list_animation&#8221; icon_animation_delay=&#8221;300&#8243; text_in_circle=&#8221;02&#8243; title=&#8221;Valuable&#8221; text=&#8221;Value from secrecy.&#8221;][qode_icon_list_text type=&#8221;text_type&#8221; line_between_circles=&#8221;with_line&#8221; icon_animation=&#8221;q_icon_list_animation&#8221; icon_animation_delay=&#8221;300&#8243; text_in_circle=&#8221;03&#8243; title=&#8221;Protected&#8221; text=&#8221;Keeping it a secret.&#8221;][\/qode_icons_list_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243; down=&#8221;34&#8243;][\/vc_column][\/vc_row][vc_row row_type=&#8221;content_menu&#8221;][vc_column][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; anchor=&#8221;secret&#8221; in_content_menu=&#8221;in_content_menu&#8221; content_menu_title=&#8221;Secret&#8221; content_menu_icon=&#8221;&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243; down=&#8221;34&#8243;][vc_single_image image=&#8221;170&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_border&#8221; qode_css_animation=&#8221;&#8221;][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221; up=&#8221;47&#8243; down=&#8221;47&#8243;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; anchor=&#8221;valuable&#8221; in_content_menu=&#8221;in_content_menu&#8221; content_menu_title=&#8221;Valuable&#8221; content_menu_icon=&#8221;&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_single_image image=&#8221;171&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_border&#8221; qode_css_animation=&#8221;&#8221;][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221; up=&#8221;47&#8243; down=&#8221;47&#8243;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; anchor=&#8221;protected&#8221; in_content_menu=&#8221;in_content_menu&#8221; content_menu_title=&#8221;Protected&#8221; content_menu_icon=&#8221;&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_single_image image=&#8221;169&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_border&#8221; qode_css_animation=&#8221;&#8221;][vc_separator type=&#8221;transparent&#8221; up=&#8221;47&#8243; down=&#8221;47&#8243;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; text_align=&#8221;left&#8221; background_color=&#8221;#f4f4f4&#8243; padding_top=&#8221;57&#8243; padding_bottom=&#8221;2&#8243; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h3 style=\"text-align: center;\">Identifying Your Trade Secrets<\/h3>\n<p>[\/vc_column_text][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221;][vc_row_inner row_type=&#8221;row&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column_inner width=&#8221;1\/3&#8243;][vc_single_image image=&#8221;275&#8243; img_size=&#8221;medium&#8221; qode_css_animation=&#8221;element_from_left&#8221; transition_delay=&#8221;0.3&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;2\/3&#8243;][vc_column_text]I used several examples of big companies having high profile trade secrets. However, the reality is that most trade secrets are a little more \u2026 mundane.<\/p>\n<p>&nbsp;<\/p>\n<p>Trade secrets can include any information that is secret and valuable. For a business this can include:<\/p>\n<ul>\n<li>Customer data<\/li>\n<li>Computer programs<\/li>\n<li>Financial records<\/li>\n<li>Future or proposed products or services<\/li>\n<li>Marketing plans<\/li>\n<li>Raw data<\/li>\n<li>Schematics<\/li>\n<li>Source code<\/li>\n<li>Supplier identities<\/li>\n<li>Research &amp; Development plans<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>If a competitor obtained this information they could use it to poach customers, change their strategy, and obtain necessary components to build copycat products or services.<\/p>\n<p>&nbsp;<\/p>\n<p>So, you likely have secret and valuable information, but do you have trade secrets? Only if you <em>protect<\/em> this information.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243;][\/vc_column_inner][\/vc_row_inner][vc_row_inner row_type=&#8221;row&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column_inner width=&#8221;2\/3&#8243;][vc_column_text]You must take reasonable measures to protect your secret and valuable information if you want to turn it into trade secrets. So what is a reasonable measure?<\/p>\n<p>&nbsp;<\/p>\n<p>For KFC, it was building a high-tech safe. For you, it can be as simple as a password.<\/p>\n<p>&nbsp;<\/p>\n<span class=\"custom_font_holder\" style=\"font-family: Open Sans; font-size: 30px; line-height: 19px; font-style: none; font-weight: 500; color: #00aeef; text-decoration: none; padding: 0px; margin: 0px; text-align: center;\">********<\/span>\n<span class=\"custom_font_holder\" style=\"font-family: Open Sans; font-size: 12px; line-height: 12px; font-style: italic; font-weight: 500; color: #00aeef; text-decoration: none; padding: 0px; margin: 0px; text-align: center;\">Password must be at least eight characters, include a number, an uppercase letter, a non-standard character, and a haiku.<\/span>\n<p>&nbsp;<\/p>\n<p>Starting out, you can encrypt your\u00a0files so that someone else, legally or not, cannot access them. As your business grows, you can add additional measures to secure your secret and valuable information. For example, when you present this information to an investor or supplier, you can have them sign a non-disclosure agreement (NDA); when you hire an employee you\u00a0can have the employment agreement specify what information is a trade secret and what steps the employee has to take to safeguard this information, and-if it comes to it-you can even put a safe with 24\/7 surveillance in your corporate headquarters for any especially vital information.<\/p>\n<p>&nbsp;<\/p>\n<p>There is no one-size-fits-all approach to trade secrets, but being proactive about protection can insure that any secret and valuable information stays that way.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_single_image image=&#8221;329&#8243; img_size=&#8221;medium&#8221; alignment=&#8221;right&#8221; qode_css_animation=&#8221;element_from_right&#8221; transition_delay=&#8221;0.3&#8243;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; text_align=&#8221;left&#8221; padding_top=&#8221;57&#8243; padding_bottom=&#8221;2&#8243; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h3 style=\"text-align: center;\">Losing Trade Secret Status<\/h3>\n<p>[\/vc_column_text][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221;][vc_row_inner row_type=&#8221;row&#8221; type=&#8221;grid&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column_inner width=&#8221;1\/3&#8243;][vc_single_image image=&#8221;287&#8243; img_size=&#8221;medium&#8221; qode_css_animation=&#8221;element_from_left&#8221; transition_delay=&#8221;0.3&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;2\/3&#8243;][vc_column_text]As long as this information is kept secret it can be a trade secret. This means that trade secrets can last forever.<\/p>\n<p>&nbsp;<\/p>\n<span class=\"custom_font_holder\" style=\"font-family: Open Sans; font-size: 19px; line-height: 26px; font-style: none; font-weight: 500; color: #00aeef; text-decoration: none; padding: 0px; margin: 0px; text-align: center;\">Forever<\/span>\n<p>&nbsp;<\/p>\n<p>Until \u2026 they don\u2019t. Despite best efforts, sometimes trade secrets become known and lose their trade secret status.<\/p>\n<p>&nbsp;<\/p>\n<span class=\"custom_font_holder\" style=\"font-family: Open Sans; font-size: 19px; line-height: 26px; font-style: none; font-weight: 500; color: #00aeef; text-decoration: line-through; padding: 0px; margin: 0px; text-align: center;\">Forever<\/span>\n<p>&nbsp;<\/p>\n<p>How does a trade secret become known? There are two ways: illegal ways and legal ways.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; text_align=&#8221;left&#8221; background_color=&#8221;#f4f4f4&#8243; padding_top=&#8221;57&#8243; padding_bottom=&#8221;2&#8243; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h3 style=\"text-align: center;\">Illegal Ways to Lose Trade Secret Status<\/h3>\n<p>[\/vc_column_text][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">Illegal ways include improper means and a breach of confidence.<\/p>\n<p>[\/vc_column_text][vc_separator type=&#8221;transparent&#8221;][vc_row_inner row_type=&#8221;row&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<h4>Improper Means<\/h4>\n<p>[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;6&#8243;][vc_column_text]Improper means involves breaking a law to uncover a trade secret. If trade secret information was stored on a computer, then breaking into an office and stealing the computer itself is an example of improper means.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<h4>Breach of Confidence<\/h4>\n<p>[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;6&#8243;][vc_column_text]A breach of confidence involves using social engineering to get access to trade secret information. Pretending to be an employee in order to get access to protected files would be a breach of confidence.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; text_align=&#8221;left&#8221; padding_top=&#8221;57&#8243; padding_bottom=&#8221;2&#8243; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h3 style=\"text-align: center;\">Legal Ways to Lose Trade Secret Status<\/h3>\n<p>[\/vc_column_text][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">There are also legal ways to uncover a trade secret. These legal ways include independent discovery, inadvertent disclosure, and reverse engineering.<\/p>\n<p>[\/vc_column_text][vc_separator type=&#8221;transparent&#8221;][vc_row_inner row_type=&#8221;row&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]<\/p>\n<h4>Independent Discovery<\/h4>\n<p>[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;6&#8243;][vc_column_text]Independent discovery is when someone else independently discovers the trade secret information. This could happen if two people independently come to the same conclusion, and one of them discloses it to the public.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]<\/p>\n<h4>Inadvertent Disclosure<\/h4>\n<p>[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;6&#8243;][vc_column_text]Inadvertent disclosure is when the trade secret is disclosed by the company that was keeping it a secret. Let&#8217;s say a company accidentally publishes or otherwise makes their trade secret available to the public.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]<\/p>\n<h4>Reverse Engineering<\/h4>\n<p>[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;6&#8243;][vc_column_text]Reverse engineering is the process of disassembling something to learn how it works. The component suppliers for a computer could be held as a trade secret, but would be discovered as soon as someone takes the computer apart to discover its components.<\/p>\n<p>&nbsp;<\/p>\n<p>The possibility of reverse engineering is an important consideration in choosing between a trade secret and a utility patent. A utility patent has a limited lifetime as compared to the potentially infinite lifetime of a trade secret. However, a trade secret loses its protection once it is no longer a secret. If a product can be reverse engineered, then it may make more sense to protect the product with a utility patent.<\/p>\n<p>&nbsp;<\/p>\n<p>In practice, the distinction between utility patents and trade secrets is not as black and white. There are often some components of an invention that can be easily reverse engineered and would be better protected by a utility patent. There may be other components of the invention which cannot be, or are not easily, reverse engineered. The easily reverse engineered elements can be protected with a utility patent, while the hideable elements can be protected as a trade secret.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; up=&#8221;34&#8243;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row row_type=&#8221;row&#8221; type=&#8221;grid&#8221; text_align=&#8221;left&#8221; padding_top=&#8221;57&#8243; padding_bottom=&#8221;2&#8243; css_animation=&#8221;&#8221;][vc_column][vc_column_text] Trade Secret Elements [\/vc_column_text][vc_separator type=&#8221;small&#8221; position=&#8221;center&#8221; circle_position=&#8221;circle_center&#8221; down=&#8221;47&#8243;][vc_column_text]There are three elements needed to turn information into a trade secret.[\/vc_column_text][vc_separator type=&#8221;transparent&#8221; down=&#8221;47&#8243;][qode_icons_list_text number=&#8221;three&#8221;][qode_icon_list_text type=&#8221;text_type&#8221; line_between_circles=&#8221;with_line&#8221; text_in_circle=&#8221;01&#8243; title=&#8221;Secret&#8221; text=&#8221;It&#8217;s in the name.&#8221;][qode_icon_list_text type=&#8221;text_type&#8221; line_between_circles=&#8221;with_line&#8221; icon_animation=&#8221;q_icon_list_animation&#8221; icon_animation_delay=&#8221;300&#8243; text_in_circle=&#8221;02&#8243; title=&#8221;Valuable&#8221; text=&#8221;Value from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"full_width.php","meta":{"footnotes":""},"class_list":["post-204","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/pages\/204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/comments?post=204"}],"version-history":[{"count":9,"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/pages\/204\/revisions"}],"predecessor-version":[{"id":333,"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/pages\/204\/revisions\/333"}],"wp:attachment":[{"href":"https:\/\/keytoip.com\/index.php\/wp-json\/wp\/v2\/media?parent=204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}