Lately, employers have seen a pattern of employees quitting at a high rate. While high employee turnover negatively impacts daily business operations, you may have increased worry about intellectual property theft when an employee leaves.
The Maryland Uniform Trade Secrets Act protects a business from the threat of sensitive information that the general public would not readily know about. When an employee leaves and takes any information specific to your company, you should not let that go unchallenged.
Trade secrets are property
If your employee left and took a tangible item like a cellphone, you would ask for that equipment back. The equipment belongs to the company and isn’t for the employees to take after they leave their roles. The same is valid for trade secrets.
An employee taking private company information such as formulas, secret sauces, or other information specific to your operation’s success may pose a significant risk. In the hands of a competitor, your information could be used as a weapon against your success.
Keeping secrets private takes work
When an employee steals trade secrets, a company may be tempted to dismiss the issue. Court proceedings can take a long time and may get costly. Furthermore, taking an employee to court could make the entire case public knowledge, which would be counterproductive.
However, mediation could be an ideal alternative dispute resolution in this case. Mediation may protect your business and your secrets depending on your goals for recouping intellectual property. Mediation is confidential and voluntary and seeks to remedy the situation.
Mediation may be the answer if one of your employees has taken valuable company information, and you must ensure your business secrets remain intact.