Category: Business law

Proper Documentation of Trade Secrets

If your company wants to protect its trade secrets, it is essential to properly document them in either paper or electronic form. This process is important because it can provide evidence that your business viewed and treated the information as secrets. Documentation shows you identified your trade secrets and treated them as proprietary and secret [..]

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How do I Identify my Company’s Trade Secrets?

Most business owners are aware that it is important to protect their company’s trade secrets, but they aren’t sure what trade secrets they actually have that need protection. Below are examples of items that could be trade secrets: Engineering information, methods or processes Computer programs Financial information Customer or vendor lists Budgets and methods used [..]

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Is your Business Protecting its Trade Secrets?

Most people associate the theft of trade secrets with large companies. However, all businesses are potential targets, regardless of their size. Trade secrets can include scientific processes, specialized recipes, formulas, customer lists, pricing methods, and any other form of valuable proprietary information that is not generally known to the public. Below are a few steps [..]

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Contracts: Understanding Boilerplate Clauses

Every contract should be drafted to fit the specific agreement made between the parties, but most contracts contain certain “boilerplate” or basic contract provisions. A boilerplate clause typically follows a standard format and they contain carefully drafted language to ensure the provision will be upheld by the court. It is common for parties to skip [..]

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LLP versus LLC

When you are starting a new business, there are thousands of decisions that must be made, including what type of legal entity to use for your company.  Many small business owners consider using the limited liability company (LLC) or the limited liability partnership (LLP). Both a LLC and a LLP combine the beneficial aspects of [..]

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