FAQ Trade Secrets - LAW OFFICE OF ELIAS M. GORDAN

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0 height="100%"><tr> <td valign="top" width=175 BGCOLOR="#A6CAF0" TEXT="#080000"> <div> <B> <TABLE BORDER="0" CELLPADDING="2" CELLSPACING="1" WIDTH="132" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" ALIGN="BOTTOM" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 35 ><NOBR><div> <IMG BORDER="0" SRC="1x1.gif" HEIGHT="29" ALIGN="BOTTOM" HSPACE="0" VSPACE="0" WIDTH="21"></div> </NOBR></tD> <tD VALIGN=TOP><NOBR><div> <IMG BORDER="0" SRC="1x1.gif" HEIGHT="29" ALIGN="BOTTOM" HSPACE="0" VSPACE="0" WIDTH="21"></div> </NOBR></tD> <tD VALIGN=TOP WIDTH="20"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="35" ALIGN="bottom" WIDTH="20" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP><NOBR><div> <A HREF="index.htm" TARGET="_top" TITLE="HOME PAGE LAW OFFICE OF ELIAS M. GORDAN"><U><B><IMG SRC="00d0d1d0.gif" border=0 width="13" height="29" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></U></A></div> </NOBR></tD> <tD VALIGN=TOP><NOBR><div> <IMG BORDER="0" SRC="1x1.gif" HEIGHT="29" ALIGN="BOTTOM" HSPACE="0" VSPACE="0" WIDTH="27"></div> </NOBR></tD> </tR> </TABLE></B></div> <div> <B>© </B>2001 Elias M. Gordan</div> <div> All rights reserved</div> <bR> <div> <B>Law Office of</B></div> <div> <B>Elias M. Gordan</B></div> <div> Post Office Box 60</div> <div> Palos Park, IL  60464</div> <bR> <div> Phone  708.923.9735</div> <div> Email  gordanlaw@att.net</div> <div> Web    www.gordanlaw.com</div> <div> <A HREF="index.htm" TARGET="_top" TITLE="HOME PAGE LAW OFFICE OF ELIAS M. GORDAN"><U><B>HOME</B></U></A></div> <div> <A HREF="id24.htm" TARGET="_top" TITLE="LAW OFFICE OF ELIAS M. GORDAN About Us"><U><B>About Us</B></U></A></div> <div> <A HREF="id30.htm" TARGET="_top" TITLE="LAW OFFICE OF ELIAS M. 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GORDAN Contact U"><U><B>Contact Us</B></U></A></div> <bR> <bR> <bR> </td> <td valign="top" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> FACT SHEET ON TRADE SECRETS</div> <bR> <div> <B>What is a trade secret?</B>   Protected information, secret enough to be potentially valuable to others, if it were ever disclosed.  Also commonly known as “proprietary information”.</div> <bR> <div> <B>What are typical trade secrets in the construction industry</B><B>?</B><FONT SIZE="4" COLOR="#000000" FACE="Arial" >   </FONT>Customer lists, bidding records, historical production records and rates, profit margins (actual and anticipated), strategic plans.  If you would not want your competitors to know certain information, you probably have trade secrets, if the information would be hard to figure out, <U>and</U> if you make reasonable efforts to keep the information “under lock and key”.</div> <div>         <B>It's not enough to have a secret, you have to treat it as a secret.</B></div> <bR> <div> <B>How does one obtain a trade secret?</B>  Apart from having valuable, confidential information, and protecting it as such, no special applications or filings are made for trade secrets.</div> <bR> <div> <B>How long does trade secret protection last?</B>  As long as the information stays a secret.</div> <bR> <div> <B>What does trade secret law do?</B>   Attempt to discourage trade secrets from being “misappropriated”, that is, discovered through illegitimate means (theft, disgruntled employees, ex-employees, and the like). To misappropriate a trade secret, one must be exposed to truly secret information, and know it to be a secret.  Discovery of a trade secret through legitimate means (reverse engineering, for example), may not be prohibited under trade secret law, but it may be prohibited by contract or other law. Trade secrets are mainly enforced under State law, though there are Federal statutes that also attempt to protect trade secrets.</div> <bR> <div> <B>How can I protect my trade secrets?</B></div> <div> Have a plan in place</div> <div> Separate out the secret information from the non-secret information.</div> <div> Grant access to the secrets only on a “need to know” basis</div> <div> Monitor access to the secrets</div> <div> Keep the secrets secret.  This is often easier said than done.</div> <div> Require non-disclosure agreements when giving access to secret information</div> <div>               Require return of the secret information when the party no longer needs it </div> <div>                  (or is no longer affiliated with the company)</div> <bR> <DIV ALIGN="LEFT"></DIV> <div> <B>For links to additional useful information, </B><FONT SIZE="3" COLOR="#0000BF" FACE="Arial" ><A HREF="id31.htm" TARGET="_top" TITLE="LAW OFFICE OF ELIAS M. GORDAN IP Links"><U><B>click here</B></U></A></FONT></div> <bR> <bR> <div> DISCLAIMER:   For general information only.  Not to be considered legal advice, nor create an attorney-client relationship.</div> <bR> <DIV ALIGN="LEFT"></DIV> <div> Law Office of Elias M. Gordan</div> <div> <B>16335 S. Harlem Ave., Suite 400</B></div> <div> <B> Tinley Park, IL  60477</B></div> <div> <B>708.923.9735, </B><FONT SIZE="2" COLOR="#0000FF" FACE="Arial" ><A HREF="mailto:gordanlaw@att.net" TARGET="_top" TITLE="mailto:gordanlaw@att.net"><U><B><U>gordanlaw@att.net</U></B></U></A></FONT><B>, </B><FONT SIZE="2" COLOR="#0000FF" FACE="Arial" ><A HREF="http://www.gordanlaw.com" TARGET="_top" TITLE="http://www.gordanlaw.com"><U><B><U>www.gordanlaw.com</U></B></U></A></FONT><B> </B></div> <bR> <div> <A HREF="index.htm" TARGET="_top" TITLE="HOME PAGE LAW OFFICE OF ELIAS M. GORDAN"><U><B>BACK TO HOME PAGE</B></U></A></div> <bR> <bR> </td> </tr></table></body>