In our digital age, it is more challenging than ever to keep a secret. Nearly everything, it seems, ends up on social media. We know how hard our clients work to refine their business processes, operations and strategies to keep pace with the rate of innovation. So we were curious to uncover more about how they regard this information and keep it confidential.
Today’s trade secrets are more susceptible to the threat of being hacked or downloaded, but they are of no less value to the companies that own them.
To better understand the role trade secrets play in today’s digital age, Baker McKenzie partnered with Euromoney Institutional Investor Thought Leadership to examine how the leaders of multinational companies view their trade secrets, who they see as the greatest threats to those secrets, and what they do to protect them.
In this report, The Board Ultimatum: Protect and Preserve – The Rising Importance of Safeguarding Trade Secrets, we find out that:
- Nearly half of the 400 senior executives surveyed said their trade secrets are more important than their patents and trademarks.
- A majority agreed that trade secrets are a board-level issue of growing concern, with 32% placing it among their top five issues.
Given the rapid rate of innovation across global industry and the rise of cyberattacks by competitors, foreign government and hacktivist groups, we expect that concern to become even greater in the future.
We hope this report provides you with the insight you need to take the next steps towards greater protection and security. And please, feel free to share these findings with anyone who may also find them helpful. No need to keep them secret.