Management of the Trade Secret Assets in the Domain of Public Interest

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Management of the Trade Secret

Written by: Adv. Mokshada Aggarwal

Managing the relevant information from disclosure is one of the great aspects of trade a secret which needs to be regulated by the following order of arrangement:

Risk assessment

A trade secret protection plan, after defining the types of information to be covered, will define the risk structures and mitigation steps necessary to the danger. What is the importance of the trade secret and the correct scope of the safeguard measures?

In the terms, trade secret information without permission may be taken, used or released, why, how, and by whom?

All related management of the company or organizations and its external independent contractors, the supply chain for suppliers or employees or other external interested persons such as rivals or rival businessmen may be subjected to the same analysis. Naturally, all secrets or sensitive information need not be worth the unique degree of disclosure protection. Benefit and risk differ from time to time depending on the needs of individual business circumstances. Therefore, we may claim that corporations have developed a hierarchy of protections needed for individual cases that represent certain objectives in order to provide extra security.

Therefore, if the risk assessment involved in the individual cases has been observed, measures for protection should be taken to safeguard the definite knowledge in accordance with the degree and severity of risk involved and the identified interest, taking into account the legal necessity for appropriate steps or measures. Those interventions may include:

Labelling attachment

For better protection of classified documents and electronic files containing trade secrets, it is important to mark them as Confidential which conveys the fact that they are subject to restricted access notice.

 A variant on the above notice may be extended in the following words for the document which can be used outside the organization or institution: This document includes sensitive and proprietary information from Companys and is protected by copyright, trade secrets and other laws.  The reception or possession conveys no rights, either express or implied, including any right to reproduce, transmit, publish, create, use or sell any embodiment of the mentioned material. If this document was issued in error, ignore the contents and return or kill. A single term or expression such as confidential is enough for internal record.

It is said to be appropriate for small and simple business premises to mark records in one type of disclosure protection, such as confidential or classified.’ But a comparative greater discernment is said to be needed in larger organizations, where knowledge needs to be exchanged more quickly.

Various categories representing varying degrees of confidentiality for the purposes of a single standard of security attempt [e.g. “Confidential,” “classified,” “trade classified”] can be obtained, bearing minor alteration labels and controls, such as counting or watermarking for confidential determination. When using the word ‘ trade secret’ in any document, the mark will signify that this category does not mean that any similar information labelled differently is unqualified from trade secret security.

The connection or protocols, however, should be sufficiently clear for people who can come into direct or indirect contact with the information to understand their restricted access restriction.

Restricted internal physical and electronic access is often required for the purposes of potential security protections. Also, the person who requires, for example, also access to sensitive information by physical means, separated safe facilities or electronic systems that ideally regulate several levels of access with multi-factor authentication, and for that limited usage monitoring software is often necessary to alert management to high-risk behaviours.

There is a wide variety of information security products and services available for selecting defences and providing early notice of threats before any stranger hamper. Intrusions into the computer network by hackers seeking direct or indirect access to client information are becoming increasingly popular for external system security purposes. In addition to this, for example, the employee training programs will emphasize basic information safety hygiene, such as identification and prevention of attempts by outsiders to gain access to employee credentials.

Keywords: Management of the Trade Secret, Management of the Trade Secret in India

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