Steps Employers Can Take Before A Reduction In Force To Help Protect Trade Secrets

Layoffs are here and with them comes an often-overlooked threat: trade secret misappropriation. Thousands of tech workers have been laid off over the last year, and 61% of business leaders say their organizations will likely have layoffs in 2023.¹ Businesses reducing force face hard operating decisions as well as the requirements of an ever-expanding body of laws and regulations. With so much to consider, employers often overlook the threat that departing employees can pose to the trade secrets that form the very lifeblood of an organization. 85% of trade secret theft is committed by employees or business partners.² When employees leave, especially involuntarily, there is significant risk that they may retain the employer's trade secret materials. Of course, such