You did everything right to protect your business’s confidential information. You limited access to sensitive information and had employees sign non-disclosure agreements (NDAs). You trusted your team to follow the rules, but now your trade secrets have been leaked, putting your business at serious risk.
It’s a frustrating, high-stakes situation, and the fallout can be devastating. As such, it helps to take strategic steps and protect your business interests. Here’s what to do.
Understand what’s at stake
Start by gathering all the facts before reacting. Take time to understand what was shared to understand the magnitude of the potential damage. Who had access to the data? Document evidence like emails, texts or screenshots showing unauthorized sharing, access logs that show unusual activity or notifications from clients or third parties alerting you to the leak.
You’ll also want to review the NDA and any related contracts for enforcement terms. Some NDAs include dispute resolution clauses and specific remedies for breach. These documents may also outline your rights to pursue legal action against the breaching party.
Take immediate legal action
Time matters when your trade secrets are compromised. A well-written cease-and-desist letter can serve as a critical early response. In more serious cases, a court injunction can help prevent further harm or even a lawsuit.
North Carolina courts recognize the urgency and importance of trade secrets. With the right evidence and legal support, you may recover financial losses, prevent further use of the stolen information and even hold individuals personally accountable.
Rebuild and reinforce
Take this breach as a sign to review your security practices. Update your NDAs and tighten access controls. Train employees on confidentiality to prevent the next occurrence. It can go a long way in safeguarding valuable information that gives your business the edge.