TRADE SECRETS

Who We Are

Greyson Legal are boutique commercial lawyers with extensive experience in franchise law and intellectual property law. 

What Are Trade Secrets ?

Trade secrets, sometimes referred to as know-how, and other confidential or proprietary information have an important role particularly in Business. Trade secrets are typically broadly defined and may include:

  • sales methods; 

  • distribution systems; 

  • customer databases; 

  • advertising strategies; 

  • supplier list; 

  • manufacturing processes; 

  • etc 

An example of trade secret is the the combination of herbs and spices used in Kentucky Fried Chicken.

There is no formal registration process in respect of trade secrets.

As know-how is important to a Business, it follows that appropriate mechanisms should be adopted by that Business to protect its trade secrets. A few options might include:

  • Only key personnel of the Business having access to the trade secrets; 

  • Where access is given, the relevant receiver of the information has signed a Confidentiality or Non-Disclosure Agreement; 

  • Checking whether the content of the trade secret might also fall into another category of registrable intellectual property, for example, a design or patent. 

Where there is an infringement of a trade secret it would be necessary for the owner to seek remedies under the common law or equity, such as:

  • breach of a Confidentiality Agreement (or breach of confidence in the absence of a written agreement); or 

  • breach of a restraint obligations (ie. to prevent the disclosure or use of trade secrets), 

which may entail pursuing injunctive relief and/or a claim for damages.

Trade secrets also have an important function within a franchising context.

What We Do

At Greyson Legal we can assist you with:

  • preparing Confidentiality Agreements

  • review and advice on Non-Disclosure Deeds

  • advice on how to protect your know how

  • ensuring your Employment Agreements or Consultancy Agreements contain appropriate clauses that deal  with rights and obligations in regards to trade secrets

  • the application of trade secrets in a franchising context

  • general intellectual property advice  

Contact Greyson Legal for further assistance on how we can help protect your trade secrets.