Keeping (Trade) Secrets Amid A Reduction In Force

With the US economy officially in a recession as of June and business closures continuing due to rising coronavirus infection rates, more companies may need to conduct layoffs in the coming months. Although discharging employees who have worked with the company's confidential information can increase a company's exposure to trade secret theft, advance planning can help companies head off many of the risks.

Before announcing any reduction in force, companies should figure out which employees have access to vital trade secrets. Armed with that knowledge, companies can monitor specific employees' computer activity around the reduction in force and capture a forensic image of a specific employee's computer if necessary. A document management software program with features indicating who has opened, edited, and closed documents is a valuable tool for tracking activity related to a company's sensitive information. Setting up a permissions system that only allows select