Patent Attorney and Founder
Everybody I’m JD Houvener your hosts to the ball today’s show we’re here the inventor or entrepreneur is your daily inspiration to help you make the world a better place [Music]
all right we’re wrapping up our series here on trade secret law and all the different aspects of what it means to identify protect make sure you hold off and make sure you don’t lift me that information go outside of your company without a solid plan to enforce your rights on this last session today I wanted to talk about this idea of putting a dollar sign an actual numeral numerical value on your trade secret no no people know about this but there is this ability to value your trade secret information and this is done in a couple different avenues by a lot of CPAs and by insurance companies right we just talked last week if you’re listening about the different types of IP insurance models are out there and so one vehicle for that is when they put insurance and they provide a coverage benefit to sort of recuperate your costs excuse me the value of what might be lost as a trade secret they need to put some sort of value on it and so when they take a look at your trade secret information and how that’s changing over time that valuation is important and it’s going to be applied to a lot of things right looking forward to how your company is going to be licensing this technology using that information to not just benefit your company but how you might go to benefit from receiving a royalty on that someday so that’s part of what we were talking about yesterday when it comes to putting in systems and tools into your company to start not only just identifying trade secrets but knowing which ones to move forward and start working on today so those that are course aligned with where your business is going but even on top of that you want to work with those trade secrets that are truly valuable from an economical standpoint they’re gonna help you and your company grow and be more profitable so if you want it for more information about this he’d like us to introduce you to some of those third parties we do that and we’d be happy to do that for you in this case I’m your host JP who Verner and it’s Ben I pledge or talk with you here about trade secrets I wish y’all have a wonderful weekend I look forward to hearing from you in the comments below don’t forget to like comment or share some of this information with some of your colleagues on social media and again don’t forget to leave some comments I’d love to answer any questions you have above all I’m your host JD Houvener of the bold today’s show go big go bowl
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