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Posts tagged "Trade Secrets"

What is trade secret status for cosmetic ingredients?

The U.S. Food and Drug Administration is responsible for ensuring the products you use in California are safe. It implements many different practices to help with this. One of those is the requirement for all cosmetics sold in the country to have a list of ingredients printed on the product package. For most companies, this is not a problem, but some companies may not want to list all the ingredients used in a product because it would reveal or weaken a trade secret.

What is the Defend Trade Secrets Act?

There are many protections available for your intellectual property in California. It is important to understand them and know the details of such protection, including what remedies you have if someone were to violate your rights. The American Bar Association notes a 2016 bill, called the Defend Trade Secrets Act, offers you better protection if you have a trade secret. The DTSA provides a new definition for trade secret, along with giving you a better venue in which to pursue trade secret violations.

What is the difference between patents and trade secrets?

Protecting your intellectual property in California probably weighs heavily on your mind. Keeping others from using your inventions, ideas, written works, brand images and other proprietary information is made easier through protections offered by the federal government. Two of those protections are patents and trade secrets.

Examples of highly sought-after trade secrets

While trade secrets in California can be for anything, from computer algorithms to formulas, some of the most famous are for food recipes. Many of today’s major brands have some trade secret they are protecting. Most people have eaten these foods, and many may be wondering how these companies keep their recipes from being discovered or revealed.

Tips for protecting trade secrets

A trade secret is only protected as long as it remains secret information. As soon as an unauthorized person become privy to the information, the protections are lost. This is why California business owners need to be vigilant about protecting their intellectual property. There are some solid tips that anyone can employ to keep their trade secret protections intact.

What is the Defend Trade Secrets Act?

If your California-based company has trade secrets, then you understand the importance of laws that protect this type of intellectual property. What makes a trade secret special is that it must be kept secret in order to retain the legal protection you are awarded for it. If even one person tells someone else, then your protections are lost. The American Bar Associations notes that while state laws have been enacted to help you prevent someone from spilling your trade secrets and to punish anyone who does so knowingly, which is called misappropriation, these laws are not consistent across all states.

Important things to keep in mind about trade secrets

If you have a business in California, then you might benefit from understanding more about trade secrets, which can be anything from recipes to devices. In order to have a trade secret, there are some very specific guidelines that you have to follow. Making one misstep could cause you to lose your protection, which is something we at Millstone Peterson & Watts, LLP, do not want to see happen.

How to recognize misappropriation

Most business owners in California have worked hard to start a company, acquire new customers and build a brand, but what happens when the foundation of the company is stolen? While the Merriam-Webster dictionary defines misappropriation as a verb meaning to appropriate wrongly by embezzlement or theft, it doesn't take a masked robber to snatch away the basis of a company's success; it can happen with trade secrets through a process known as misappropriation. Understanding what qualifies as misappropriation can be confusing.

How is it determined if something is a trade secret?

As a business owner in California, your trade secrets are protected intellectual property just like trademarks, copyrights and patents. However, identifying one can be much trickier than doing so with the others. The basic definition, according to the U.S. Patent and Trademark Office, is intellectual property that gives an edge to your company over others in the same industry. It can be a formula, such as a special recipe for a food item offered exclusively at one franchise, a pattern or a compilation of information. Processes, techniques, methods for creating a unique product or service and devices may also be trade secrets.

Understanding California’s Uniform Trade Secrets Act

From small business owners to people who are responsible for running larger corporations, companies are protected under California’s Uniform Trade Secrets Act. This law prohibits people and/or businesses from obtaining a company’s trade secrets and using them in an improper manner. At Millstone, Peterson & Watts, LLP, we understand the importance of trade secrets to a company’s ultimate success and how damaging it can be to a business if this information is released into the wrong hands.

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