Trade secrets are the lifeline of some businesses. It can be disastrous when they fall into the wrong hands. This can happen in many instances, such as when a disgruntled employee decides to retaliate against a former employer by disclosing valuable information to a competitor or another third party.
Protecting your business
Information spreads fast in this digital era, and you should safeguard your business by taking swift action when you suspect a former employee violated a non-disclosure agreement (NDA). Sending notice to the other party, usually through a cease and desist letter, should be among your initial responses.
The first thing your lawyer will need to have is proof of violation of the NDA. You may be aware that the information is out there, but you need evidence of how your former employee played a part in disclosing crucial information related to your business. Next, obtaining a rough idea of the economic value of the leaked information and how others have used it to benefit themselves is equally important.
Like in any other contract, the terms of a non-disclosure agreement can specify the remedies of a breach. This should help determine the legal claims you can make for the disclosure.
Get legal assistance
In the event of a NDA violation, knowing all the legal options available will help you make the best decision on how to resolve the matter. We help businesses deal with the misappropriation of trade secrets. If you have any legal concerns regarding NDAs or other IP assets, contact us to schedule a consultation.