Confidential Information becomes more and more important to companies as secrecy becomes more and more the only way to protect some of their competitive advantages (whether strategic, business, technical, financial, etc.) in a context of strong competition worldwide, of development of platforms and of open data. Some confidential information may be a Trade Secret as per the applicable law and therefore benefit from a legal protection in addition to organizational, material and contractual protection.
But how practical is it nowadays to identify and manage Trade Secrets in order to maximize the benefit from their protection? In fact, almost every company faces the problem of massive data generation, collection, share and storage. In such an environment, no one single person could alone, without any governance, policy, culture, and without any powerful tools, be equipped with the relevant skills to continuously sort out what is important, what is confidential, how it should be shared or not, and what is a candidate to become a trade secret and potentially gain a status as Business Secret or valuable intangible asset; and in addition make sure everybody is on the same page all the time and correctly behaves during their work !
An efficient design of a governance program would therefore advantageously rely on a multi-facet legal business intelligence approach that combines strategic, business, financial, social and legal views, showing in practice the pros and cons of each key subject with its associated financial value, to help the decision making by managers and users.
In practice our group is working on the following subjects to address company executives concerns :
- How to create value using business secrets as intangible assets?
- How to make business using business secrets?
- How to make companies more attractive to investors, thanks to business secrets?
Dario Mohammadian Santander