The Secret Sauce: What Every Business Should Know About Trade Secrets

Episode Summary: In this episode of Infringe at Your Own Risk, patent attorney Randall Bateman explores the often-overlooked world of trade secrets. Randall breaks down what qualifies as a trade secret, how companies can protect confidential information, and why trade secrets can be as valuable as patents or copyrights. He also explains the role of NDAs, the risks of non-compete agreements, and when it makes more sense to maintain secrecy rather than seek a patent. This episode is a must-listen for business owners, innovators, and entrepreneurs looking to safeguard their competitive edge. Key Timestamps: 00:01 – Show introduction and welcome 01:15 – What qualifies as a trade secret? 04:30 – Examples of customer lists and company practices as trade secrets 06:20 – The importance of reasonable steps to protect secrecy 08:05 – How businesses can detect and prove trade secret theft 10:45 – Criminal penalties for trade secret misappropriation 12:10 – How trade secrets differ from patents and copyrights 15:30 – Copyright overlap with trade secrets in software 17:05 – Best practices for protecting confidential information 19:00 – The role of NDAs in safeguarding trade secrets 21:40 – Why non-compete agreements are being restricted 24:15 – When to choose trade secret protection over a patent 28:00 – First steps if a trade secret is compromised 30:15 – Closing thoughts and call to action About the Show: Infringe at Your Own Risk is hosted by registered patent attorney Randall Bateman, who has decades of experience protecting patents, trademarks, copyrights, and trade secrets. Each episode offers practical legal insights for entrepreneurs, startups, and established businesses seeking to safeguard their intellectual property and avoid costly mistakes.