In Seyfarth’s fourth installment of its 2014 Trade Secrets Webinar series, Seyfarth attorneys discussed the significant changes to several laws regarding trade secrets, restrictive covenants, and social media, as well as proposed legislation pending in other jurisdictions.
As a conclusion to this well-received webinar, we compiled a list of key takeaway points, which are listed below.
- Employers should employ a holistic approach to the protection of their trade secrets and confidential information, whether or not Massachusetts bans non-compete restrictions altogether or adopts the Uniform Trade Secrets Act. Utilize non-solicit, non-disclosure and invention assignment agreements; implement entrance and exit interview protocols to educate employees on non-disclosure obligations; create a culture of confidentiality with regular training programs, and various levels of security access to confidential business information; regularly evaluate your trade secret protection policies/protocols; and forensically review computer usage of departing employees with access to confidential information.
- As non-compete and trade secrets law continues to evolve, expect a greater trend toward uniformity in trade secrets law and a continued attempt to regulate trade secrets at the federal level. Review your company’s policies and practices on a regular basis to ensure that they are consistent with the latest developments and continue to take proactive, practical measures to ensure that your trade secrets are subject to reasonable methods to maintain their secrecy.
- Even if your company has operations in a state that does not prohibit employers from requiring employees and applicants to provide “personal” social media login information or access, your best bet is to avoid asking employees and applicants for this sort of information (unless account access is necessary to investigate workplace misconduct). More and more states are considering laws prohibiting such actions, and it’s best to be ahead of the curve.
To accommodate our global audience, the fifth installment in the 2014 Trade Secrets Webinar Series, “International Trade Secrets and Non-Compete Law Update,” will be available as an on-demand broadcast on July 31st! For registration and more upcoming events please visit our events page.