Heartland Angels, a Chicago-area private equity network, presented an evening panel discussion on trade secret issues for early stage companies on June 30, 2008.  The panel discussion was led by Bill Howard at Freeborn & Peters, the host site for the event.  I was pleased to be included on the Panel with other trade secret litigators - Ken Dort from McGuire Woods and Chris Paetsch from Seyfarth Shaw.

I encourage business leaders to take four key steps to protect internal confidential information such as contact details, customer requirements and pricing information:

1.  Include confidentiality clauses in employment contracts.
2.  Feature confidentiality guidelines in employee manuals and training.
3.  Use confidentiality notices on information that is considered to be a trade secret.
4.  Conduct exit interviews reminded employees of confidentiality obligations and company ownership of business information.

These steps are relatively inexpensive and can help avoid much greater litigation expenses and loss of rights.