In today’s global economy, a trade secret (or business secret) can be a valuable asset. Any undisclosed information which is obtained from financial, intellectual investment, susceptible to application in business and provides an essential competitive advantage can be a business secret as long as measures are taken to maintain the secrecy of the information. According to Vietnam IP Law, a trade secret is eligible for protection if it is (i) neither to be common knowledge nor easily obtained, (ii) to be capable, when being used in the business course, to render advantages to its holder over those who do not hold or use it and (iii) to be kept secret by its owner with necessary measures so that it shall be neither disclosed nor easily accessible.
A trade secret can range from something as complex as a chemical formula (for instance, the formula for Coca-Cola is a famous trade secret that is not known to the public to this day), know-how, methods, software etc. to something as simple as a customer list. Business secrets can be an alternative to protecting intellectual property by patents.
Our attorneys will work with clients to draft nondisclosure, confidentiality and other employee-related agreements to protect business secrets and confidential information and to assist with risk avoidance in dealing with third-party information.
Our services include:
Providing advice on alternatives to patent protection
Developing means to ensure maintenance of secrecy
Drafting agreements to identify and protect rights
Litigating for misappropriation or defending an allegation of business secret theft