Personalized Approach
We know that every client’s IP needs are unique. That’s why we take a personalized approach to each IP matter, working closely with clients to understand their goals and develop strategies that align with their business objectives. Our experience and small size make us nimble enough to follow through with creative and personalized approaches that are more difficult to achieve with larger red tape-laden organizations.
Personalized Approach
We know that every client’s copyright needs are unique. That’s why our lawyers take a personalized approach to your business and your industry when considering your brand strategy.
Personalized Approach
We know that every client’s business needs are unique. That’s why our lawyers take a personalized approach to your business and your industry when considering your business strategy, whether in contract negotiation or in a merger or acquisition. Our experience and small size give us the freedom to offer candid and creative advice others might hesitate to deliver.
Trade Secrets Attorneys
Panagos Kennedy PLLC is a Troy-based law firm with substantial trade secrets experience. At Panagos Kennedy PLLC, we understand that innovation in technology and business practices is sometimes best kept secret. That is why trade secrets matter.
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Though based in Troy Michigan, our team of trade secrets attorneys advise clients all over the globe. We help them identify, protect, and enforce their trade secrets rights. We also help them mitigate any risks of misappropriating their competitors’ trade secrets.
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Whether you are a small software development company or a larger manufacturing operation, we are here to help.
Understanding Trade Secrets and Their Value
Trade secrets are confidential business and technical information that brings value by virtue of being secret. Trade secrets are not time limited like patents. Indeed, trade secrets remain protected as long as they are kept confidential by reasonable business procedures to keep them secret. Generally, to qualify as a trade secret, the confidential information must be valuable, not generally known, and protected by measures such as confidentiality agreements and restricted access to the secret information.
Common Types of Trade Secrets
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Software: In today’s digital world, proprietary source code and algorithms often serve as trade secrets, protecting the technology that underpins a company’s products and services.
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Chemical Formulas: Companies often rely on proprietary formulas to produce unique products. For example, the formula for a popular food or beverage can be a valuable trade secret that sets a company apart in the marketplace.
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Processes and Methods: Many businesses develop unique processes or methods for producing goods or delivering services. These techniques can be considered trade secrets and are essential for maintaining a competitive advantage.
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Detailed Customer Lists: Customer lists, including information on preferences, buying habits, and contact details, are valuable assets that can give a business a significant advantage in reaching its target audience.
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Marketing Strategies: Marketing and business development strategies can also qualify as trade secrets if they provide a competitive edge and are kept confidential.
Importance of Trade Secret Protection
Here are some of the key reasons why trade secret protection is vital:
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Competitive Advantage: Trade secrets give businesses a unique advantage over their competitors who do not have the same information. By keeping proprietary information confidential, businesses can differentiate themselves from other businesses and attract customers.
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Investment Protection: Developing new technologies, products, or processes requires significant investment. Protecting trade secrets ensures that the benefits of that investment are preserved and not exploited by others.
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Business Reputation: Protecting trade secrets demonstrates a commitment to confidentiality and business ethics. This can enhance a company’s reputation among customers, investors, and partners.
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Legal Recourse for Misappropriation: Protecting trade secrets provides a legal foundation for taking action against those who misuse or steal confidential information, allowing businesses to seek preliminary and permanent injunctions.
Trade Secret Services Offered by Panagos Kennedy PLLC
At Panagos Kennedy PLLC, we offer a full range of trade secret services. Here’s a sample of the services we provide:
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Developing Strategies For Trade Secret Protection
​Effective trade secret protection starts with a proactive strategy. Our attorneys work with clients to identify trade secrets and implement measures to protect this information. This includes drafting confidentiality agreements, establishing access controls, and creating policies for information handling. By developing a tailored protection strategy, we help clients safeguard their trade secrets and reduce the risk of misappropriation.
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Litigating Trade Secret Misappropriation Cases in Federal Court
Trade secret misappropriation occurs when someone wrongfully acquires, discloses, or uses confidential information without authorization. Misappropriation can take many forms, including theft by employees, ex-employees, competitors, or third parties. Our trade secret misappropriation litigation attorneys are skilled in representing businesses in cases involving stolen trade secrets. We conduct thorough investigations, gather evidence, and pursue legal action to protect our clients’ rights and hold infringers accountable.
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Drafting NDAs, Non-Compete Agreements & Non-Solicitation Agreements
Non-disclosure agreements (NDAs) and agreements that have confidentiality provisions are critical tools for protecting trade secrets. These agreements define the terms under which confidential information is shared and establish legal obligations for protecting that information. Our attorneys draft, review, and enforce these agreements, even as the laws and regulations regarding non-competes is developing. These agreements are also useful for protecting confidential information that does not rise to the level of being a trade secret.
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Developing Employee Training and Compliance Programs
Employee training and compliance programs are essential for maintaining trade secret security. We work with clients to develop training programs that educate employees on the importance of trade secret protection and the legal consequences of misappropriation. Our attorneys also assist with creating compliance programs to monitor and enforce trade secret policies within the organization.
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Conducting Trade Secret Audits and Risk Assessments
A trade secret audit is a valuable tool for identifying and assessing potential risks related to confidential information. Our attorneys conduct thorough audits to help clients identify trade secrets, assess current protection measures, and recommend improvements to strengthen trade secret security. This proactive approach minimizes the risk of misappropriation and ensures that trade secrets are adequately protected.
Why Choose Panagos Kennedy PLLC for Your Trade Secrets Needs?
Troy-based Panagos Kennedy PLLC provides high-quality trade secrets services to its clients.
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Experienced Attorneys
Our attorneys have decades of experience as both in-house counsel and outside counsel, so we can offer a unique blend of legal, business, and technical counseling that is difficult to find in private law firms. Our attorneys have earned recognition as Best Lawyers, Leaders in the Law from Michigan Lawyers Weekly, and have been recognized as Top Lawyers by dbusiness magazine.
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Personalized Approach
We know that every client’s trade secrets needs are unique. That’s why our lawyers take a personalized approach to your business and your industry when considering your trade secrets strategy. Our experience and small size give us the freedom to offer candid and creative advice others might hesitate to deliver.
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Commitment to Client Success
We understand that your secret assets are tools designed to help you achieve success as you – not us – have defined the term. Only with knowledge of the relevant business landscape can we help you achieve your desired results.
Contact Panagos Kennedy PLLC
​3331 West Big Beaver Rd. Suite 102
Troy, Michigan 48084
248.564.1335
info@paniplaw.com
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Visit our website to learn more about our IP, business & technology law services or schedule a consultation.