ntellectual Property Intellectual property is now larger than the value of all the tangible things in the world combined. There are four main types of IP. Patent law, trademarks, copyrights and trade...

ntellectual Property

Intellectual property is now larger than the value of all the tangible things in the world combined. There are four main types of IP. Patent law, trademarks, copyrights and trade secrets. Often times a business has many trade secrets about how they do things. How do you do business with others when you have a trade secret. The formula to Coca Cola is a trade secret. It has no other protection other than the fact that it is a trade secret. What is a trade secret? A trade secret is something that you know that gives a competitive advantage and isn’t known outside of the business. Asecret + advantage. You need to take steps to make it a trade secret. You are exposed to trade secrets in your job and you want to leave and use their trade secrets. Can you? No. You can’t use the trade secrets of your former employee. So often employees are asked to sign a non compete agreement.

An NDA is a non disclosure agreement. This is a tool that allows you to can share what you know without the fear of the information harming you or spreading beyond the party that signed the NDA. If you’re an employee and don’t sign an NDA can you use the company’s trade secrets outside of the business? Why do employers have their employees sign NDA if you can still protect trade secrets even without them?