We invite you to watch our webinar, "Protection and Cybersecurity: Safeguarding Trade Secrets in the Digital Age." In today's ever-evolving and interconnected world, trade secret protection demands proactive measures against both technological vulnerabilities and human threats. Watch our fourth installment of our 2024 Trade Secrets Webinar Series, where our panel of seasoned trade secrets and cybersecurity attorneys spoke about practical strategies to bolster your defenses.
Here are the key takeaways from the webinar:
- Employers should employee a three-pronged approach to ensuring confidential, proprietary, and trade-secret information is adequately protected, addressing: (1) employee training and agreements; (2) adequacy of physical and cyber-protections; and (3) third-party due diligence and agreements.
- Courts will address the reasonableness and adequacy of a company's efforts to protect its confidential information on a case-by-case basis, looking at a number of factors, including without limitation: (1) the size and sophistication of the company, (2) the value of the information; (3) the extent of the measures taken; (4) the company's location; and (5) cost of efforts.
- Proactive measures in detecting misappropriation, whether from third-party software or dedicated employee teams, is a cost but is often more efficient than trying to secure trade secrets in litigation.
- The days of simply pointing to the use of passwords for employees accessing confidential information as "reasonable measures" are likely over, as courts are increasingly looking to what other steps employers are taking to secure trade secret material.
- Courts are increasingly looking toward what a trade secrets plaintiff's actual practice is rather than policy. If employees are routinely violating company policies regarding the use of personal devices or accounts to access or transmit company data, then a court is unlikely to look to the policy as evidence of steps taken to protect trade secrets.
- The threat of cyberattacks is increasing both in volume and in the number of ways clients are threatened. AI and machine learning, the rise of cloud computing, and the proliferation of the Internet of Things are all exciting developments, but also represent new concerns for the protection of confidential information.
- As the vectors for potential misappropriation continue to expand, clients will need to adjust and likely improve their mechanisms for trade secret protection to counter these emerging threats.
To view the webinar recording, click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.