By definition, a trade secret may be almost anything which has economic value and advantage over a competitor. However, a trade secret owner must take (or have taken) reasonable steps to safeguard the secrecy or confidentiality of the information (or other thing) that the owner wants to claim as a trade secret. If a trade secret is not kept secret, the legal protections afforded to them will be lost.
There is now federal jurisdiction for trade secret theft. The Defend Trade Secrets Act of 2016 was signed into law on May 11, 2016 after being unanimously passed in the Senate and ratified in the House by a vote of 410-2. The DTSA became immediately effective for all misappropriation occurring after the bill’s enactment.
The Sienna Group, a pioneer in data protection, has developed a mature program to assist our clients with protecting their trade secrets. As part of this service, our clients receive the added benefit of being able to confidently litigate based on the criteria established by the Defend Trade Secrets Act of 2016. Sienna has extensive experience working alongside in-house and external counsel on Trade Secret and IP issues.
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Sensitive data presents three problems in most organizations. First is being able to locate and identify it. Second is to understand the business use so you can protect it and align it to regulatory requirements. Third is to be able to monitor the risks and speak to the trends of how sensitive data is being used.
Classifying your company’s data is crucial to building the confidence you need in your ability to share data and enable you to perform your business operations. Sienna Group takes a data centric approach to solving these problems through a distinctive set of effective Data Discovery and Classification security solutions. Our solutions allow you to enforce data classification policies and raise employee awareness in real-time, monitor organizational behavior of the data, and report on the risks and trends to provide confidence that your data is being protected.
Sienna’s Data Classification Services Businesses Impact:
Data Loss Prevention (DLP) has become an important security tool. Often companies are faced with the problem of how to effective leverage their DLP investment, while avoiding “false positives” that cause a disruption to their day to day business.
DLP solutions often end-up being “simplified” into ineffective tools, to the extent where only a fraction of their capabilities are being used. As a result, the DLP solution is not able to provide much of the “business value” or risk mitigation intended when originally implemented.
By setting policies that engage users in the process of classifying the data that they use, it becomes easy to feed the DLP with relevant metadata that improves the effectiveness of DLP decision-making, as well as increasing awareness of the sensitivity of the user data.