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What if someone stole your trade secrets?

Is your company taking “reasonable measures” to protect its data and secrets?

The cost of trade secret theft by employees, partners, and competitors is now measured in trillions of dollars. In 2022, 50% of all reported business theft was data and trade secret information.

The value of Trade Secrets is often overlooked, vastly underestimated, and misunderstood. According to a 2021 report published by The Economist Intelligence Unit, the cost of trade secrets theft has reached $1.7 trillion annually and this risk is expected to escalate in the coming years.

In every case involving trade secrets, the court will expect you to be able to demonstrate that you took “reasonable measures” to protect that information.

That’s why we built Tangibly. It’s Trade Secret Compliance made easy. Tangibly provides a simple, complete, web-based, encrypted, legally-enforceable Trade Secret solution.

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Trade Secrets Exist in all Parts of An Organization
Trade Secrets exist within all parts of an organization and frequently flow in and out of the organization with little tracking or oversight, exposing organizations to leading to theft, loss of competitive advantage, and contamination.

Trade Secrets are more important today than ever.

Weakened Patent Systems

Radical changes over the past decade have made patents vulnerable to invalidation.

Lack of Non-Compete Enforceability

Non-compete agreements have lost their power and the FTC is attempting to regulate them out of existence.

Remote Work & The Great Resignation

The unpredictable movement of people and data outside of the work environment is a growing problem when it comes to protecting trade secrets.

Legislation

Since 2016, most major economies have strengthened their trade secret laws.  In 2023, the U.S. passed the Protecting American Intellectual Property Act (PAIPA) to help protect U.S. companies against foreign theft.

Size of Judgements

Skyrocketing judgements (measured in millions and sometimes billions) represent potentially disastrous consequences for companies which don’t take measures.

Thankfully, there’s Tangibly.

Ultimately, you need to be able to show the courts what actions you took to restrict access your Trade Secrets and precisely which assets were misappropriated. That’s why we built Tangibly.

What Is Trade Secret Management?

Tangibly, actively guides users through the process of managing your trade secrets and confidential information. Tangibly’s proactive design provides a complete record of access and helps protect your valuable trade secrets from theft and misappropriation.

Learn more about Tangibly Manage™
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Why Trade Secret Management is Important

Trade secrets are often key to a company’s competitive edge. Whether it’s a manufacturing efficiency, a secret formulation or an algorithm, once it becomes known to the world, your business will be impacted.

Nobody wants their trade secrets to be stolen. Unfortunately, it happens frequently. If it happens to you, you will want to go after the culprit with everything you’ve got. If you haven’t actively managed your trade secrets, it will prove difficult or impossible for you to win an injunction or damages.

Tangibly is simple to setup and manages your Trade Secrets with this in mind. So, if your day in court ever does come, you will be well-equipped to prove your case.

Why do I need a Trade Secret Management Solution?

Every business has trade secrets. However, not every company is aware of all them. Tangibly helps you identify and catalog your trade secrets, and more easily demonstrate theft if and when that happens.

Tangibly also helps to organize your trade secret portfolio as a means to justify a higher valuation for your business when seeking damages, or during mergers, acquisitions, investments, or partnership negotiations.

The time to think about protecting your trade secrets is before someone steals them. Thankfully, Tangibly does most of the thinking for you once you’re on board.

Explore topics, issues, and news regarding Trade Secrets from our blog: