If your business manufactures products that need to be destroyed because of overruns or production defects, Legal Shred can help.
A company’s trade secrets and intellectual property create incentives for entrepreneurs and investors to commit the necessary resources to research, develop, and market new products, process improvements, and new services. When it comes to proprietary information, including products, how can a company protect itself when it has amassed product overruns?
Trade Secrets: The Basics
The EEA defines trade secrets as:
” … all forms and types of financial, business, scientific, technical, economic, or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, programs, or codes, whether tangible or intangible, and whether or how stored, compiled, or memorialized physically, electronically, graphically, photographically, or in writing if—
“(A) the owner therefore has taken reasonable measures to keep such information secret, and
“(B) the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, the public[.]”
In general, for information to be considered proprietary, companies must treat it as confidential.
How To Keep Trade Secrets Secure
What happens to overruns, expired materials, or customer returns? What about outdated fashion, or recalled items, or items that simply aren’t useful? While considered “trash,” these items cannot go into the literal trash; it would be like giving away your secrets, your innovation, and years of research to your competitors.
One aspect of product management that is rarely talked about is product life cycle. With software, we consistently see new releases with new features and new platforms to support.
In the fashion industry, trends come and go as the seasons change. Even if the product once fit into the company’s market strategy, a product no longer generating revenue should probably be retired. Of course there are overruns, prototypes, samples, and more. All of these items will eventually sit in a box, collecting dust, taking up necessary space that could otherwise be used to house newer, revenue-generating products. The solution? Destroy it.
Legal Shred is much more than a paper shredding company. Our company also specializes in the destruction of excess inventory, obsolete products, overruns, and other sensitive material for businesses.
We can help you protect the very essence of your brand by helping you destroy products in addition to sensitive documents, including:
- Product Recall Inventory
- Excess Inventory
- Product with Logos
- Manufacturing Overruns
- Defective Products
Destroying serviceable products mitigates the risk of diluting your brand. That is just good business practice.
Let Legal Shred help your business by ensuring that obsolete, expired, defective, mislabeled and all other excess products will never bring profit to thieves and counterfeiters.
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