Trade secret protection is becoming increasingly challenging given the rapid pace of technological innovation. In our EuroMoney study Protect and Preserve, our findings revealed that trade secrets are progressively becoming the method of choice for companies to protect their intellectual property. How do businesses know they are doing enough to protect their trade secrets?
Baker McKenzie’s Trade Secrets Tool takes a company through a series of questions about its trade secret management and protection policies in order to:
- identify and categorize risks
- provide a tailored report detailing an overall risk categorization
- identify specific areas for improvement
- suggest practical measures that can be implemented to address any concerns based on the information provided through the questionnaire
A risk categorization and specific recommendations are also provided for the three key areas relating to trade secrets:
- Identification
- Protection
- Enforcement
With the Trade Secrets Tool, a company can quickly assess the areas that need attention and make effective strategic decisions to ensure their protection. The questions should not take more than 10 minutes to complete.
