Risk To Bank Trade Secrets With Employee Mobility
Risk To Bank Trade Secrets With Employee Mobility
Everyone can move jobs just not with pockets stuffed with valuable information.
‘Hey I’ve just moved to a new bank and think you might be interested in what we can do for you, especially as ……..you hold a high cash position / or you savings are reaching maturity’…………..!
‘hang on I am not sure I want your new bank knowing this information!’
Oops!
Citibank have accused a couple of bankers who left to join the Bank of Montreal of doing just that.
They are claiming this information is a trade secret and is therefore not available for the departing bankers to use to the benefit of their new employer.
Citi’s lawsuit accused the bankers of engaging in “highly unusual activity” by searching for information related to his clients on Citi’s computer system two days before the bankers gave notice of their resignation in July. They then allegedly used the information to try to persuade a Citi client to change banks, the lawsuit said.
We wait to see how this plays out.
In some way the case will depend on the quality of the trade secrets programme within Citibank, whether the information was ‘marked’ as trade secrets, whether their contracts defended trade secrets and whether they were trained to realise the importance of this information.
How can you prepare to defend your trade secrets (and/or your business) in a trade secrets case?
I am John Pryor one of “The World’s Leading IP Strategists” and a pioneer in Trade Secrets strategies.
Making IP accessible and valuable for your business.
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I am a strategy consultant focussed on intellectual property and dedicated to helping people and business to make the best use of all available IP to compete and win in the marketplace.
My aim is to increase people’s understanding of Intellectual Property, so that they can successfully and cost effectively use it in their business, to help achieve a higher valuation.
Book: The Innovation Handbook, 2nd Edition 2010. chapter: How to maximize the value of your intellectual property.
ABOUT MY YOUTUBE VIDEOS: In these videos I explain some of the most important aspects of intellectual property in ways that make it relevant and accessible to business people.
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IP Provides Defence From Unlicensed Offence Leads To Secure Revenue. The Best Defence Is A Good Offence.
Intellectual Property Is A Business Construct To Enable The Sharing Of Ideas And Other Creations Of The Mind
A Strong And Integrated IP Strategy Puts You On The Front Foot In All Commercial And Financial Interactions
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