At the heart of any successful business or venture are the trade secrets that set it apart from the competition. The losses companies incur due to trade secret misappropriation are incalculable.
Using trade secrets, entrepreneurs and companies can theoretically safeguard information about their operations from industrial spies, venture partners, competitors and even disgruntled employees.
A trade secret can be a formula, pattern, process, device or compilation of information that is used to obtain an advantage over competitors who are not aware of, or do not know how to commercialize the trade secret. For example, a trade secret may be a formula for a chemical compound, a process of manufacturing, treating or preserving materials, a design for a machine or other device, lines of computer code, or a list of customers.
If you or your business suspects inappropriate use of your trade secrets, it is crucial that you retain a lawyer swiftly, as a trade secret holder has the option to seek injunctive relief to prevent the erosion of the value of the trade secret as soon as the misappropriation becomes known. Once a trade secret has been leaked, it is very easy for third parties to take advantage of it. At Cunningham Bounds, we have the resources to level the playing field against large businesses and to provide you with a contingency fee arrangement so that you incur less risk.