LegalVision’s Startup Manual is essential reading material for any startup founder looking to launch and grow a successful startup.<\/p>\n <\/div>\n \n\nDownload Now<\/a> <\/section>\n <\/div>\n\n\n\n\n Your business can protect confidential information. Put broadly, confidential information<\/a> is data that is unique to the company, commercially sensitive and not already publicly accessible. <\/p>\n\n\n\n The most common types of confidential information include:<\/p>\n \n Each has a unique legal meaning, so let us explore them below.<\/p>\n\n\n\n IP includes your business’ trade marks, patents or designs. If you run a Formula One racing team, the components and liquids used within your successful engine may not be secret (such as the brand of oil used and the shape of the engine casing). However, the way the parts fit together and the precise design of the internal components might be.<\/p>\n\n\n\n This would be the same as an award-winning chef publicly disclosing the ingredients to their famous, unique dish but protecting the recipe itself. This is because it is the exact amounts, times and method of cooking that sets the dish apart.<\/p>\n\n\n\n Trade secrets<\/a> refer to secret company information. As per the chef example above, a trade secret is likely to be any ‘secret ingredient’ that makes a dish unique and offers a competitive edge over similar dishes. The ingredient itself may not be particularly secret, but the proportions and method used may be unique.<\/p>\n\n\n\n Similarly, whilst your business may publish financial information each year that contains annual profit, it is likely to treat the profit margin per client (and sometimes the identities of their clients) as a trade secret. <\/p>\n\n\n\n Examples of commercially sensitive information<\/a> include:<\/p>\n\n\n\n This information demonstrates why and how a company makes a profit (or loss). Furthermore, it may inform rival companies on how to damage your business.<\/p>\n\n\n\n Primarily, your business should have staff sign a confidentiality agreement upon starting employment at your company. This agreement can ban the unauthorised use of commercially sensitive data.<\/p>\n\n\n\n Suppose an employee has not signed a confidentiality agreement, but you believe they are about to disclose commercial information. In this case, your business may wish to ask them to sign a non-disclosure agreement. This is commonly provided to an employee upon any promotion, pay rise or termination of employment.<\/p>\n<\/div>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\nWhat Information is ‘Commercial in Confidence’?<\/h2>\n\n\n\n
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Intellectual Property Rights (‘IP’)<\/h3>\n\n\n\n
Trade Secrets<\/h3>\n\n\n\n
Commercially Sensitive Information<\/h3>\n\n\n\n
How Do I Protect Confidential Information?<\/h2>\n\n\n\n
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\n UK Startup Manual<\/div>\n
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