Both Illinois and Federal law prevent the unauthorized use of trade secrets. The information presented in this File Memorandum is not a substitute for a binding non-disclosure/non-competition agreement, but rather, should be used as a supplemental protection of valuable information.
A “trade secret” is:
In determining whether information is a trade secret the law considers:
Any kind of information can become a trade secret as long as that information complies with the above-referenced factors. However, in most businesses the following categories of information are most readily considered trade secrets:
No single set of policies can guaranty protection of sensitive information. However, the following policies should be put into place as completely as possible in order to gain the maximum protection from unauthorized use.
To be considered a valid trade secret, information must be treated as a valuable resourceincluding the following typical steps:
Non-Disclosure Agreements should at least contain the following:
Non-Compete Agreements should at least contain the following:
Resources for Further Investigation