Earlier this month, we recorded an action-packed webinar with several of our Baker McKenzie colleagues to discuss the major developments impacting multinational employers operating in Asia. For your convenience, click here for a link to the recording.
And, for a tl;dr of sorts, read on!
Several jurisdictions in the Asia Pacific region have held key
Trade secrets give tech companies a competitive edge in a rapidly evolving landscape, where success depends on the ability to innovate. The unauthorized acquisition, use, or disclosure of trade secrets can result in significant loss and disruption, making it essential for organizations to have robust safeguards in place to protect their trade secrets. Here, we explore clear steps organizations can take to manage and mitigate risks with a focus on trade secret identification and the role of employees in trade secret protection.
The technology sector continues to experience huge transformation with emerging technologies and advancements in AI. Companies are investing heavily in developing capabilities, and new services and products. Rapid innovation and desire to be first to market, has caused trade secrets to become an increasingly preferred method of protection over other types of intellectual property regimes, such as applying for a patent, which can be costly and raise complex timing considerations. Trade secrets can protect algorithms, processes, datasets, customer lists, and more. The trade secrets of companies at the forefront of AI and other tech innovation are highly valuable.
Threat actors are leveraging tech advancements to steal vast amounts of company information through more sophisticated and efficient attacks. Heightened internet usage increases hacking risks from competitors, foreign governments and hacktivist groups.
AI developments currently require high computational power, concentrating progress in large tech companies. However, the competitor landscape is changing, with many start-ups and established companies building applications within the AI technology stack, alongside new players entering the AI frontier race. The demand for tech talent with the skills to drive innovation is at all-time high, making trade secret protection critical.
In the past few years, tech companies have also been especially susceptible to the public disclosure of confidential internal documents by employee activists motivated by non-monetary factors.
Legal frameworks for protecting trade secrets have become more robust and varied across jurisdictions. Injunctive relief (to prevent use of trade secrets and reclaim them) is an essential tool in trade secret breach cases. Victims may also pursue financial remedies, such as damages.Continue Reading Top Strategies to Safeguard Tech Trade Secrets
The two largest global economies-the US and China-stand in stark contrast with their current immigration policies. The US is moving towards restrictive measures, potentially hindering employers’ efforts to recruit and relocate foreign talent. China has taken a more open approach, resulting in a significant increase in foreign national travelers and policies streamlining work authorization for
More than ever, organizations are feeling the pressure to disclose information from all sides – consumers, employees and regulators
Underlying this trend toward organizational transparency is a desire from stakeholders for accountability and meaningful change. But while transparency is undoubtedly a tool to achieving this, organizations will need to back information disclosure with effective governance
