Many Ohio business owners underestimate the risks of trade secret theft until it happens to them. Vital information like customer data, manufacturing processes and pricing strategies can walk out the door with dishonest employees or fall into competitors’ hands.
The state’s trade secret laws protect businesses from theft and misuse of confidential information. But it is crucial that you know what qualifies as a violation. Swift action against trade secret theft starts with knowing what the law protects.
What makes something a trade secret
Before claiming that someone stole your business information, you need proof that it qualifies as a trade secret. Review these protected categories:
- Confidential data: Your private business information must provide real economic value specifically because others don’t know it
- Customer information: The detailed client records and pricing arrangements you’ve developed through years of work
- Production methods: Your unique manufacturing processes that competitors can’t easily duplicate
- Custom software: The specialized programs and systems you’ve created for your operations
- Strategic plans: Your confidential roadmap for business growth and market expansion
Identifying your trade secrets marks an important first step. However, you must also take concrete action to protect this key information from misuse.
Protecting your business secrets
Strong protection measures can help prove your case if someone steals your trade secrets. Start safeguarding your information with these essential steps:
- Make employees sign detailed confidentiality agreements
- Label sensitive materials as confidential
- Restrict access to need-to-know personnel
- Set up secure physical and digital storage
- Create strict protocols for departing employees
- Install monitoring on company systems
- Train staff on information security rules
Smart businesses put trade secret protection first by setting consistent policies and practicing awareness. By enacting proper safeguards now, you create a strong shield against future theft of your valuable information. If you suspect someone has violated your trade secrets, contact an experienced litigation attorney right away to discuss your options and protect your company’s interests.
