S1 E31 Dos and Don’ts for NDAs and employee agreements with Wayne Carroll and Scott Gibson

S13 E31 Dos and Don’ts for NDAs and employee agreements Our special guest is attorney Scott Gibson, an expert in trade secret law. Can an employee exploit trade secrets they have access to in order to do their job? No, even without a contract or anything in writing, employees have a duty of loyalty to their employer and are not allowed to exploit trade secrets they have access to in order to do their job. What protections do employers have against the use of trade secrets? Employers still have some protections against the use of trade secrets even without a written agreement. When is it advisable to get a written agreement for trade secrets? It is advisable to get a written agreement early on and review/update it periodically to maintain protections for confidential information. Why is it important to establish that a trade secret is a real thing before going to court? The judge needs to understand that your trade secret has value and what that value is to your business. How can legal agreements for trade secrets be tailored to protect the most valuable asset of the business? A good lawyer should identify the business's "secret sauce" and draft an agreement tailored to protect it. The specificity of the agreement works in favor of protecting the most valuable asset of the business. Should job candidates sign restrictive covenants before offering them a position? Yes. What is the status of non-compete agreements in the law? Non-compete agreements are generally disfavored in the law, so it's important to be specific, narrow, and focused in what restrictions are being placed. The FTC is currently preparing draft rules with final rules expected to be issued this summer. Our next episode covers Avoiding a lawsuit when hiring - Best practices when hiring employees with experience. 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 is a highly experienced intellectual property lawyer with over 15 years of experience. He holds a Juris Doctor degree with a concentration in Intellectual Property Law from Suffolk University Law School, as well as an undergraduate degree in Electronic Engineering Technology from DeVry University. Wayne is the CEO and Attorney at Inspired Idea Solutions, LLC, a firm he founded in 2013, where he specializes in patent strategy, patent prosecution, trademark strategy and registration, and copyright litigation. 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. TAGS: secrecy, trade secrets, employment, written agreement, intellectual property, podcast, education, information, disclaimer, returning guest, court, judge, value, confidentiality, legal action, nondisclosure agreements, engineer, legal agreements, lawyers, secret sauce, specificity, off the shelf, NDAs, protection measures, job candidates, Defend Trade Secrets Act, criminal liability, sequestration order, success, nationwide effort, President Biden, FTC, regulations, non-compete agreements, disfavored.