Confidential business and trade secret information is more than the stuff of corporate espionage.  It is the competitive edge of any  business, regardless of size, and deserves protection.

Set up the proper safeguards to protect you confidential and trade secret information and you’ll be able to pursue your legal remedies the way Home Depot recently did.

When Home Depot’s senior manager in product engineering was caught sharing competitive pricing information with a vendor in hopes of negotiating a favorable employment package, Home Depot took action.  They called in the FBI to investigate and the engineer’s employment prospects significantly dimmed after he was sentenced to 4 months in prison, 4 months of home confinement, 3 years of probation, and a fine of $10,000.

Just because intellectual property like trade secrets are intangibles doesn’t mean they can’t have a real impact on you business.  They’re real. FBI special agent Greg Jones said it best when he said, ” Intellectual property-related cases are serious criminal cases with high dollar stakes.”

Think about that the next time a job candidate offers to bring along a briefcase full of information.  The next time they job hop the data on their flash drive could be yours.

Recipes for top performing food products are among the most jealously guarded business trade secrets in the world.  Think secret sauce.  Think Coca-Cola®.  Think the Kentucky Fried Chicken®.  Think Thomas’ English Muffins! 

Bimbo Bakeries USA, the owner of Thomas’ English Muffins has sued a former 20 year employee in Pennsylvania, one of only 10 people in the world to whom the famous muffin recipe was entrusted.  What did he do?  He went to work for a competitor Hostess Brands Inc. and even though he hasn’t actually “stolen” any trade secrets, Bimbo says it’s inevitable that he’ll share his knowledge about the “special nooks and crannies.”

What do you think?  Should the bad thing have to happen first?  Or should a business be able to nip it in the bud? 

Share your opinion below and also join me on February 3 at 8 pm Eastern (5 pm Pacific) for a free teleseminar with attorney Mark Saloman of Proskauer Rose, LLP on Ask the No Nonsense Lawyer when we’ll discuss how to protect your business trade secrets. 

Click here now for more details.