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Protect trade secrets in New Jersey business

Many New Jersey businesses look for unique hooks or practices that set them apart from their competitors. In a world where being unique can make the difference between success and failure, businesses that find winning practices often want to guard them from their competitors. Generally, these winning practices are called trade secrets, and businesses can protect them under United States law.

The United States Patent and Trademark Office (USPTO) is charged with protecting the intellectual property of American citizens. Intellectual property can take a variety of forms including patents, copyrights, trademarks and trade secrets. According to the USPTO, a trade secret is information used in business and that provides a user with an economic advantage over competitors.

When someone threatens to release or share a company's trade secrets, those threats can pose real damages to the involved organization. Former employees, contractual partners and others who know an organization's trade practices may be tempted to sell the information they possess to the organization's competitors for personal gain. Under IP law and the law of contracts, such actions are usually prohibited.

Many businesses require that their workers and partners sign nondisclosure agreements that contractually limit what, if anything, those workers and partners may share about the businesses. When such agreements are violated, companies can sue for breach of contract to either stop the information from being released or to recover the monetary losses they suffered from the information getting out.

Trade secrets can be vital for a business to keep its edge in a competitive market. When threats are made to make those secrets public, affected companies often have rights. Attorneys who practice business law can guide their clients through the state and federal laws that protect their trade secrets and help them plan business litigation strategies to keep their businesses secure.

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