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How can the Defend Trade Secrets Act help your business?

As a business owner, your success has likely hinged on your ability to think innovatively and create strategies that resulted in your company pulling ahead. Your ideas certainly played a pivotal role in ensuring that your business continued to grow and compete with other companies in your field. In order to remain competitive, you undoubtedly took precautions to protect your trade secrets.

Firing an employee without getting burned

You know you have put it off for too long, and your company has suffered because of it. However, if you are honest with yourself, the potential ramifications of firing this particular employee -- or maybe any employee -- make you so nervous you have been willing to endure having this person on the staff and risk the damage he or she is doing.

When a workplace accident brings a visit from OSHA

You may have taken every precaution to prevent a serious accident at your workplace. Following the guidelines in place by the Occupational Safety and Health Administration, you have posted the most recent job safety flier and routinely offer training and reviews for your employees. Each year, you submit a report to OSHA summarizing any workplace injuries or job-related illnesses, which, thankfully, have been few and minor.

Separation agreements may help protect your company

Running a business comes with many responsibilities. While a number of those duties may allow you to strengthen your company and reap the benefits of your hard work, you may also have to deal with tasks that seem less enjoyable. As an employer, gaining and losing employees likely take place relatively often as your business needs change, and you may find yourself having a difficult time letting an employee go.

Don't let business secrets slip from loose lips. Create an NDA.

As a business owner, you undoubtedly hope that the ideas and tools of the trade that led to your success won't be discovered by your competition. As you certainly know, the business world can prove competitive and harsh, which contributes to why you likely hold company policies and actions close to the vest. While you may wish to keep your ideas to yourself, you also know that your business cannot grow if you do not allow others to assist you.

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