S1 E32 Avoid a lawsuit when hiring with Wayne Carroll and Scott Gibson

S13 E32 Avoid a lawsuit when hiring - Best practices when hiring employees with experience. An SBA report on Small Business litigation from 2005 showed that Litigation costs for small businesses (firms) are between $3000 to $150,000 per lawsuit The survival rate of new employers falls from 69% of all new firms in the first 2 years to 33% survival rate if they are involved in a lawsuit. Small firms hire 43 percent of high-tech workers (scientists, engineers, computer programmers, and others) We are joined by Attorney Scott Gibson, a trade secret expert. Scott, is there a risk of being sued when hiring someone from a competing business? Do you need a written trade secrets agreement to protect your trade secrets? - Having a written agreement is not necessary for protecting trade secrets, but it indicates taking reasonable steps to maintain secrecy. Trade secrets are protected regardless of a written agreement, but reasonable efforts to maintain secrecy are required as per the definition of a trade secret. “Conducting a Trade Secret Audit” article by Scott Gibson Next week we will cover Internal Company IP Processes: Culture, Life Cycles, and Your IP Team The lifecycle of an invention - from secret to patent to a brand When in the life cycle of patenting to start selling your new product Creating a culture of IP protection Create your IP team - Who you need on your team and what they need to do. 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. In addition to his legal work, Wayne is an Eagle Scout and actively volunteers with the Boy Scouts of America. He is also a proud father of six children and enjoys playing pickleball. Wayne's extensive experience and expertise in intellectual property law make him a highly respected attorney and a valuable asset to clients seeking protection for their intellectual property rights. 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: SBA report, litigation costs, contract litigation, survival rate, new employer, small firms, high tech workers, risk of getting sued, risk evaluation, trade secrets, written agreement, confidentiality, contractor, salesmen, competitor, settlement, security policy, intellectual property, Leveraging Inspiration, Wayne Carroll, Scott Gibson, legal disclaimer, ex-employee, intel plant, sensitive information, large corporations, small businesses, iBGR network, Inspired Idea Solutions Law Firm, strategy, Microsoft, garage, security measures, potential employee, misappropriation, liability, theft of trade secrets, protection.