Attention Companies: Protect Valuable Assets With Employment Agreements
In the 21st Century, intellectual property (IP) represents one of the most important assets for companies. The amount of trade secret misappropriation alone is staggering. According to Thomas Heed in Misappropriation of Trade Secrets: The Last Civil RICO Cause of Action that Works published in The John Marshall Law Review, “Corporate loss estimates from misappropriated trade secrets are estimated by various sources to be between $1.8 billion and $100 billion annually, and the frequency of incidents seems to be rising.” One of the best ways a company can protect its IP is through employment agreements with employees and service agreements with independent contractors.
Learn why trade secrets may be most vulnerable to employee theft. Read more about safeguarding your IP with Employment Agreements.
In addition to Thriving Attorney, Darin M. Klemchuk is founder of Klemchuk LLP, a litigation, intellectual property, and transactional law firm located in Dallas, Texas. He also co-founded Project K, a charity devoted to changing the world one random act of kindness at a time. Click to read more about Darin Klemchuk's practice as an intellectual property lawyer.