Are You Doing Everything to Protect Your Company's Trade Secrets?

Mike Greco’s article “Are You Doing Everything to Protect Your Company’s Trade Secrets?” was featured in the Denver Business Journal on July 4, 2015.

Protecting trade secrets is a big concern for any company. It is even more important for companies in Colorado. Why? Because Colorado has an outdated non-compete statute that unnecessarily elevates the importance of trade secrets for employers who seek to protect themselves from unfair competition.

Colorado’s non-compete statute places unusual limits on when a company can use a non-compete or non-solicitation agreement. The statute provides that such agreements are presumptively void unless they fall into one of four categories; i.e., contracts:

1. related to the sale of a business;
2. to recover employee training costs;
3. with “executive and management personnel” or their staff; or
4. necessary to protect trade secrets.

In the article, Mike provides three steps on how a company can prepare to protect its trade secrets:

1. Identify your trade secrets
2. Implement policies and procedures
3. Require confidentiality agreements when appropriate.

To read the full article, please visit Denver Business Journal.