ColoradoBiz Magazine
5 steps for every Colorado business owner to ensure IP information is protected
July 6, 2021
Protecting trade secrets has always been an essential part of running a successful Colorado business. With the sudden increase of employees working from home due to COVID-19, this task has increased urgency and importance. Business owners must take reasonable steps to safeguard their trade secrets to receive the protection of federal and Colorado laws. Failing to do so can put their trade secrets at risk, whether employees are working from home or not.
What is a Trade Secret?
A trade secret is data or information with its own actual or potential economic value because it is not generally known. Trade secrets are only legally defined as such if there are efforts to maintain their secrecy. They have value to other parties who cannot legally obtain them. Without all three of these characteristics, the information does not qualify as a trade secret and has no legal prote