Life Science Industries, Trade Secrets, and the ITC
Trade secrets are among a life science company's most valuable assets, allowing it to obtain and maintain a competitive edge on the open market. As such, trade secrets are the cornerstone of a life science company's success and profitability. The development of these trade secrets, and of the technology behind them, requires a company to expend vast resources, including its time and money. The tradeoff, however, can be very lucrative. Competitors, therefore, may be tempted to avoid making those large investments and instead profit from trade secrets obtained illicitly. Life science companies possessing valuable trade secrets must therefore be mindful of the serious threat of trade secret misappropriation, proactively guard against it, and effectively respond in the event trade secrets are stolen.
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Gillian Schutt, a 2023 summer associate with Troutman Pepper who is not admitted to practice law in any jurisdiction, also contributed to this newsletter.