Cyberattacks are an unfortunate reality of today’s business environment. Theft by hacking of confidential consumer information and the legal fallout has been well-reported—some of the higher-profile victims include Target, Home Depot and the notorious Ashley Madison website. In addition to consumer information, a company’s trade secrets invariably get caught up in the cyberbandits’ web. As a result, businesses should be just as concerned about the compromise of these important business assets by way of cyberattacks.
The key to effectively addressing computer-based theft of confidential trade secrets actually begins prior to the hacking. Almost all businesses have trade secrets, which include things like customer lists and information, formulas and unique business processes. To obtain the legal protections afforded to trade secrets by federal and state law, however, a company must be able to show that the information is in fact confidential and that the business has taken reasonable measures to maintain that secrecy.
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