The Sedona Conference and its Working Group 12 on Trade Secrets (WG12) are pleased to announce that The Sedona Conference Commentary on the Governance and Management of Trade Secrets (“Governance Commentary”) has been published in final form. This Governance Commentary -- written from both legal and business perspectives – is a useful reference for the design and implementation of trade secret governance and protection programs in corporate environments. It also provides insight to litigators and judges about the practical ways companies approach the “reasonable efforts” requirement in trade secret law. The central message is that programs to manage trade secrets, like other business processes, should align with business objectives in the context of the needs of the specific business. Ideally, trade secret management should be contextual and strategic, not just a collection of “boilerplate” forms and protocols bearing little relationship to the actual trade secrets and risk environment of a particular company. While trade secret management demands strategic business thinking, it also has a legal dimension. The existence of a trade secret depends in part on whether the company has exercised “reasonable efforts” directed at maintaining its secrecy. This standard corresponds to the relevant circumstances of each enterprise, so that there can be no “one size fits all.” In effect, it suggests that the judge or jury apply the same kind of analysis; namely, an assessment of the value of, and risks to, specific trade secrets in the context of the company’s particular business and resources. This Governance Commentary addresses all of these topics. We are planning a webinar to discuss the subjects addressed in the Governance Commentary. Look out for our Sedona Conference communication providing the date and time for our Governance Commentary webinar.
The Sedona Conference Working Group 12 on Trade Secrets The mission of WG12 is to develop consensus and nonpartisan principles for managing trade secret litigation and well-vetted guidelines for consideration in protecting trade secrets, recognizing that every organization has and uses trade secrets, that trade secret disputes frequently intersect with other important public policies such as employee mobility and international trade, and that trade secret disputes are litigated in both state and federal courts. To become a member of The Sedona Conference Working Group Series (WGS) and WG12, please visit https://thesedonaconference.org/join. |
