Intellectual Property co-chair Amy Goldsmith was quoted in the Creative Business Inc. article, "Does Your Company Take Confidentiality and Trade Secrets Seriously?” The article discusses the importance of implementing protections for confidential information or trade secrets for all companies, no matter the size or industry. As the article notes, confidential information encompasses two categories, which includes information that gives a business advantage and personal or private information about people or entities. Trade secrets are information used and kept secret by a business to have a competitive edge over competitors who do not know or use it, including a formula, program or process.
Amy explains that, "Companies must have designated policies in place to protect confidential information, which they then communicate to employees or contractors. Employees or contractors are obligated to do their best to protect confidential information per the policy. In any case, the more explicit the company details these policies and procedures, the more protected the company will be in case of any breach.”
Further, Amy states that all businesses may be jeopardizing their ability to protect confidential information and trade secrets if they don’t have the necessary processes in place to educate their employees as to how to mark documents and keep them safe. She highlights the fact that it is never too late to start.
|Goldsmith, Amy B. Partner and Co-Chair of Intellectual Property Group||Partner and Co-Chair of Intellectual Property Group||212.216.1135|