As much as possible, businesses should avoid disputes by establishing preventive measures. But if a dispute arises despite taking the necessary precautions, the company must know how to handle the matter appropriately. One of the possible disputes businesses may encounter is sharing trade secrets.
Establishing your case
Before taking your next step, you should establish a solid case. The first step in doing so is to confirm that the information you are protecting falls under the category of trade secrets. For an information to be considered a trade secret, the following qualifications must be present:
- The information has commercial value due to its confidential nature.
- The information is not generally known to others.
- The company took reasonable measures to keep the information private and confidential.
Moreover, you must establish that the person you are suing intentionally took, used or disclosed the trade secret, depriving you of its exclusive use.
Protection through legal action
Once you have established your right, you can bring an action to court. One of the initial steps you can take is to request the court to order an injunction to prevent the information from further disclosure. Another option is to file a lawsuit for theft or misuse of trade secrets. You can also recover damages for business losses related to the disclosure.
Considering negotiation
If you have doubts about pursuing legal action, you can explore other dispute resolution methods, such as negotiation. This option lets you communicate to the other party how you want to settle the conflict. Moreover, you can discuss the issue privately, avoiding public disclosure of the trade secret in question.
Whichever dispute resolution method you use, it is important to face the conflict skillfully. One of the ways you can do this is by acquiring the assistance of a business litigation expert. It is also essential that you look into your business goals and interests to determine which method is right for you.
