In a previous post, we discussed the importance of trade secrets to an organization’s ability to successfully compete against others in its industry, as well as the tricky balancing act required to both ensure employees who need it have access to trade secret information and protect that information from misuse.
In this post, we discuss some tips and best practices for achieving that important balance.
Building Awareness
The first step in trade secret protection training is simply building awareness—awareness of the concept of trade secrets, awareness of the specific types of trade secrets the organization owns and employees may have access to, awareness of the importance of protecting such trade secrets, and awareness of the policies in place for that protection.
If employees aren’t aware of or don’t comprehend the potential harm that can result from misusing these secrets, how can employers have confidence that those employees will be competent and reliable stewards of that information?
Employers shouldn’t assume all employees are well versed in the complicated legal and technical nuances of trade secret law, so building awareness is job number one.
Principle of Least Privilege
In the broader information security context, the Principle of Least Privilege (PoLP) is the idea that individuals should only be given the amount of access to sensitive information required for their specific job duties.
For example, in the trade secret context, an employee in Acme’s milk chocolate division shouldn’t need access to trade secret recipe information from the dark chocolate division.
The fewer people who have access to trade secret information, the fewer opportunities there are for that information to be misused. Trade secrets are powerful tools for businesses competing in lucrative industries, and they can be leveraged by employers to build competitive advantage and profitability. But if those trade secrets get into the wrong hands, it can have devastating consequences. That’s why taking the time to ensure employees are well versed in trade secret protection is a key precaution every business should take to protect sensitive information
Lin Grensing-Pophal is a Contributing Editor at HR Daily Advisor.