Overview
Protecting a trade secret is not a one-time exercise. The information a business holds changes as it grows, as people and processes shift, as the business evolves and information becomes stale, and as technology changes how sensitive information is stored, shared, and accessed. A program that suited a company three years ago may have real gaps today. Effective management treats confidential information as a living business asset that requires active, ongoing stewardship, not just an initial setup.
Leason Ellis advises clients on managing their trade secret assets across the life of the business. This includes reviewing and updating policies and agreements annually and whenever significant changes occur; advising on handling confidential information during employee transitions; and evaluating new practices or technologies that affect how information is accessed. We also help clients understand how a trade secret interacts with the wider IP portfolio, including when a secret might warrant patent protection or be abandoned, how proprietary information can support licensing, and what a trade secret portfolio looks like to a prospective acquirer or investor.
When a client undertakes a significant change, such as reengineering a core commercial product, we help structure agreements with vendors and contractors at the outset so that anything developed is properly owned by the client and can be maintained as a trade secret or evaluated for patent protection. This early work is typically intensive for the first few weeks, then settles into regular check-ins as each phase of the project progresses. Once the framework is running smoothly, day-to-day oversight can move in-house.
Unlike a patent, a trade secret can protect valuable information for as long as it remains valuable. A well-documented portfolio is often the first thing a buyer's diligence team asks to see. Clear records can also strengthen a client's negotiating position. We see their importance directly through our growing IP due diligence practice. Good documentation also provides a record of the appropriate measures taken to protect the information, which may be needed if the client ever pursues a misappropriation claim or defends by establishing independent development. We provide the management structure, ongoing counsel, and strategic insight that keep protection current, commercially relevant, and ready to be defended when needed.
