Impact | Business Risk Management Blog

When it comes to protecting a company’s competitive advantage, it is important to know the difference between confidential information and trade secrets. Knowing the difference allows businesses to design and implement the appropriate measures to protect their information and secure their competitive advantage.

A recent case from the Illinois Appellate Court is a reminder to business owners of the need to be proactive in protecting their trade secrets and confidential information. In this case, three sales representatives left their employer, who was in the radio advertising business, and joined a competitor. When they left, the three sales representatives were alleged to have taken with them their sales and renewal lead lists to help them solicit customers for their new employer.