Trade secrets, such as the Coca-Cola formula or the Kentucky Fried Chicken recipe can be the key to a successful business. Under the Puerto Rico Trade Secret Act, which was co-drafted by one of Ferraiuoli’ s attorneys, a trade secret is information that is: (i) valuable to a company, (ii) not generally known, and (iii) has been kept secret by the company. A company’s trade secrets may include a wide variety of technology and information including:
- production processes
- research techniques
- customer database information
- pricing structures
- marketing information
- composition formulation
Since trade secrets provide a competitive advantage to your company, they must be protected from competitors.
We offer a wide range of services to protect your trade secrets in Puerto Rico, including:
- identifying trade secrets that can be protected
- reviewing methods for security and secrecy of trade secrets
- instituting new security measures to prevent wrongful misappropriation or disclosure of trade secrets
- drafting the appropriate non-disclosure contracts for employees and third parties
- developing the means to protect confidential information that may not qualify for trade secret protection
Ferraiuoli successfully litigated the first court case to be decided under the 2011 Trade Secrets Act both before the Court of First Instance and its subsequent appeal before the Puerto Rico Court of Appeals. Our attorneys have also offered seminars to both lawyers and private companies on the proper handling and protection of trade secrets as part of their internal practices and manuals.