Need Trade Secret Valuation?
Trade secrets are intellectual property (IP) rights on sensitive information that can be licensed or sold. Understanding this vital area of law is critical as the digital age grows and businesses face increasingly sophisticated attacks from individuals seeking to obtain their intellectual property. This article includes an overview of trade secret valuation and a summary of the procedures that businesses should take to preserve their trade secrets. What constitutes a trade secret valuation? In general, for information to qualify as a trade secret, it must be: It is commercially valuable because it is secret, known only to a small number of people, and subject to reasonable precautions taken by the legitimate holder of the information to keep it hidden, such as the use of confidentiality agreements for business partners and staff. Unauthorized acquisition, use, or disclosure of such secret information by others in a manner inconsistent with simple commercial procedures is considered an...