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Trade secrets are intellectual property and information that have commercial value to your present and future business. Any kind of confidential information that provides a competitive edge to your business and remains undisclosed to third parties qualifies for trade secret protection. This includes technical information like research data, engineering drawings, process sheets, and computer software source code, as well as commercial information such as marketing strategies, production data, or recordings related to commercial activities.
In Malaysia your trade secret may be protected by common laws or tort laws which you can take legal action against unauthorized use without permission. However, a large part of responsibility and onus rest on the trade secret owner to present the ground and evidence to the court.
With our extensive expertise in Trade Secret Protection and vast experience handling various confidentiality issues, we’re equipped to safeguard your trade secrets both locally and globally! Once we understand the essence of your business, our team will develop a customized protection strategy that aligns with your business model and financial plan.
Start securing your trade secrets today and take advantage of your complimentary consultation!
Trade Secret Fundamentals
To be recognized as a trade secret, the information must meet the following criteria:
Commercial value: It is crucial to the success of your business
Confidentiality: The information must be known to only a limited number of individuals and must not have been previously disclosed to the public or exist in the public domain.
Designation as a Trade Secret: It must be explicitly communicated to all relevant parties that the information is considered a trade secret. Without clear indication that the information is a trade secret, it may not be eligible for protection.
Term of Protection for Trade Secrets
Trade secrets last as long as the commercially valuable information remains confidential. Unlike most other forms of intellectual property, trade secrets are not protected for a specific duration. They remain protected as long as they consistently meet the criteria for being a trade secret. If the information ceases to be confidential, it loses its status as a trade secret and will no longer receive the same legal protection once it enters the public domain.
Types of information protected by trade secrets
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Technical Information: This encompasses research and engineering data, engineering drawings, process sheets, and computer software source code, chemical formula, algorithm etc.
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Commercial Information: This includes marketing strategies, production data, and records related to commercial activities.
Essentially, any confidential information that gives your business a competitive advantage and remains undisclosed to third parties can be protected as a trade secret.
Types of protection offered by Trade secrets
Depending on the legal system, the protection of business secrets may be part of the general concept of protection against unfair competition or be based on specific laws or case law regarding confidential information.
While the final determination of whether trade secret protection has been violated depends on the specifics of each case, unfair practices involving secret information generally include industrial or commercial espionage, breach of contract, and breach of confidence.
However, a trade secret owner cannot prevent others from using the same technical or commercial information if it was independently acquired or developed through their own research and development, reverse engineering, or market analysis. Unlike patents, trade secrets are not made public and do not offer “defensive” protection as prior art.
How can Trade secrets be protected?
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Non-Disclosure Agreement (NDA) : Prevent and mitigate risk of employees and business partners from disclosing the trade secrets.
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Trade secret management : Design a holistic Plan-Do-Check-Act to manage your trade secret.
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Non-Compete Agreement (NCA) : Prevent and mitigate risk of employees and business partners from competing using the trade secret after their employment ends.
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Robust IT Security Infrastructure : Implement strong IT security measures to safeguard digital information.
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Controlled Accessibility : Restrict access to important documents to only those who need it.
Why choose us?
We listen to our clients objectives and needs and provide solutions to you.
We are innovative and passionate about the work we do. We always come up with new ways to enrich your revenue to greater heights.
Extraordinary and High Quality services: We have a supreme team who works rigorously to grown businesses beyond client’s expectations.
We always deliver on time: We genuinely understand the value of time in business and hence adhere to time and deliver on time to our customers.
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