Business is a complex world, and there are many different factors that make a business successful. The decisions the company makes; the people they hire; the product or service they offer consumers; the manufacturing or procedural steps they take to enact their ideas; and the intellectual property they have are all elements to a company’s success.
So with that caveat out there, intellectual property could arguably be the most important element to a company’s success. Without trade secrets, trademarks, patents and copyrights, a company’s or inventor’s ideas, products, images, logos or other iconography could be pirated ans stolen. When these things are stolen or re-purposed by other people or companies that don’t have a legal right to them, the creator or company loses out on vital financial gains.
Trade secrets are especially valuable, and also especially threatened in today’s tech-savvy, hack-heavy world. Having information that few other people know inherently makes that information valuable. This is a trade secret. It can boost a company’s value and allow them to produce products and release them in the marketplace without comparable competition.
But these trade secrets will always be under attack. Former employees may take knowledge they have of a trade secret to a different company. People may infiltrate any security systems you have in place to store your data electronically. And once that information is revealed, the value of it diminishes significantly. If your trade secrets are misappropriated in any way, then you need to consider your legal position and discuss your situation with an attorney.