Trade secrets, know-how and confidential information
| 1. | What are trade secrets, know-how, or confidential information? | Confidential information is any type of information that you regard as confidential. Trade secrets and know-how are subsets of confidential information. Confidential information can be business information such as financial records, marketing plans, customer lists etc. Trade secrets and know-how can include all types of technical information. |
| 2. | How should I treat my confidential information? | To be afforded protection the information needs to be treated as being confidential, For example, it should be marked as being confidential, kept in a secure place when not actively in use, shared only with those on a need-to-know basis, all copies are accounted for, etc. |
| 3. | What rights do trade secrets, know-how, or confidential information give me? | You can use your trade secrets, know-how, and confidential information. If your trade secrets, know-how, or confidential information have been misappropriated, you can commence proceedings against the person that misappropriated them. |
| 4. | Does a trade secret, know-how, or confidential information need to be registered? | No. |
| 5. | How long do these types of intellectual property rights last? | For as long as they remain outside the public domain. |
| 6. | How can I protect my trade secrets, know-how, or confidential information from misuse by my employees? | By having clear confidentiality obligations in employment agreements. |
| 7. | How can I protect my trade secrets, know-how, or confidential information from misuse by contractors and consultants that I engage? | By having clear confidentiality obligations in your agreements engaging consultants and contractors. |
| 8. | How can I protect trade secrets, know-how, or confidential information from misuse if I disclose them to business associates? | By having a well-drafted confidentiality agreement. |
- Last reviewed: 28 Sep 2020
- Last updated: 13 Jun 2016