S1 E29 Patent or trade secret? Both! with Wayne Carroll and Scott Gibson

S13 E29 Patent or trade secret? Both! Our goal in this episode is to show you the value of implementing a trade secret program in your business, especially when you have patented technology. To understand trade secrets, we have a special guest Scott Gibson, an attorney with expertise in the area of trade secrets. Trade Secrets What is the definition of a trade secret? - A trade secret is information that is not commonly known in the industry, has economic value, and is subject to efforts to keep it secret. What kind of information can be considered a trade secret? - Any kind of information that is not commonly known within the industry, has economic value and is subject to efforts to keep it confidential could be considered a trade secret. What is the importance of developing a trade secret program? - A good trade secret program will help the court recognize your trade secrets as real and valuable assets in the event of legal proceedings. What are examples of Trade secrets? -Coca-Cola’s recipe and “KFC's 11 herbs and spices” Unique Business Differentiation - To stand out from competitors, a company needs to be truly different in a meaningful way. The same thing applies to trade secrets, the trade secret needs to be something that differentiates the company from its competitors. Contact Scott Gibson to discuss your business trade secret needs. In our next episode, we are discussing The first step in protecting trade secrets.

Guest BIO: Scott Gibson Scott F. Gibson is a highly experienced attorney with over 35 years of expertise in protecting businesses from unfair competition and disloyal employees. With a unique blend of courtroom experience and deep knowledge of unfair competition laws, he helps clients effectively safeguard their intangible business interests. Scott's exceptional ability to identify critical issues allows him to focus on resolving litigation and achieving favorable outcomes through negotiation or motion practice. He holds two advanced legal degrees in Biotechnology and Genomics, as well as Litigation Management, and is recognized for his teaching and speaking engagements on trade secrets, restrictive covenants, and employment law. Use this link for more information and to contact Scott Gibson.

BIO: Wayne Carroll founded Inspired Idea Solutions Law Firm in 2013, an IP boutique law firm focused on helping small businesses with intellectual property. At Inspired Idea Solutions, we use a proven process for obtaining IP rights that focuses on aligning the business strategy of small business clients with their IP strategy. We help small businesses implement a strategy to ensure they own and leverage their intellectual property. We also have clear expectations with zero hidden fees.

Wayne can be reached at 480-741-2440 or [email protected]. You can also connect with Wayne on LinkedIn.

Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property.

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