What steps can I take to protect my company's confidential information and trade secrets?

To protect your company's confidential information and trade secrets, there are several steps you can take:

1. Identify and classify your trade secrets: Your company should identify all information that it considers confidential, secret or proprietary. Ensure this information is properly classified and documented so that it can be treated and protected as a trade secret.
2. Restrict Access: Access to confidential information should be limited only to those who have a need-to-know basis. Your company should have a Confidentiality Agreement (also known as a Non-Disclosure Agreement) in place with any third party to whom confidential information is disclosed.
3. Use Physical Security Measures: Your company should use physical security measures to protect confidential and proprietary information. This may include secured areas, access controls such as Keycard only access controls, electronic monitoring, and CCTV cameras.
4. Develop an Information Security Program: The development of an Information Security Program should be formalised to protect the company's information assets. This could include policies around user identification and access, password usage, software security updates, and security systems management.
5. Educate Your Employees: All employees should be aware of the importance of protecting confidential information and the importance of maintaining confidentiality. This can be achieved through formal training and communicated through employee manuals or employee handbooks.

Additionally, it is crucial that your company has restrictive covenants in place with any employees or third-party contractors. This includes non-compete, non-solicitation and non-disclosure clauses to prevent individuals from using confidential information to compete with your company or disclose it to others.

It is important to note that while these steps can go a long way in protecting your company's confidential information and trade secrets, there are limitations to the legal protection available for trade secrets. In certain situations, trade secrets may lose their legal protection if the information is disclosed to others or if it is determined that the information is not truly a trade secret. It is best to consult with an attorney to ensure that any proposed measures are effective and the law in the relevant jurisdiction.