Employee and trade secrets

[Justin]

Trade secrets are greatly treasured in my home country. People found to be doing corporate espionage are booked by law. A a owner of a business, you need to treat this issue seriously.

 

[jay]

With the greedy nature of human beings coupled with selfishness,is it right to let your employees in on your trade secrets or is there any cause to be worried about being sabotaged by employees especially when managing inventory is difficult example having a restaurant and you're not around to manage it

Most companies will never reveal their trading secret or their company secret because they believe that once they release that to their staff they will definitely lose those staff who might have the capital to go and start the business for themselves.

 

[ahmedo24]

Most companies will never reveal their trading secret or their company secret because they believe that once they release that to their staff they will definitely lose those staff who might have the capital to go and start the business for themselves.

Absolutely I don't think any company will release their secret because they are secret is the success they are maintaining and building on so it was like for every other person to grow their company and keep their secret. This is also applicable in Trading.

 

[tyrim88]

there are some secrets that are meant only for you and you alone, sharing them out might be a great problem,but if you trust the fellow I think it will be great if you share it out

That is actually true abiut business,because you would not like to share your trade secrets with anyone because the success of your business greatlly depend on them.You have to keep some part under the rader.

 

[Immilash1]

I don't see anything wrong from keeping secrets. Secrets are meant to be kept personally,you might share your secrets and end up been sabotaged.

 

[kinqzbitz]

Well we know what trade secret it,it is actually the secret that helps you sell or grow in your business,it can be a strategy and it should not be shared with anyone outside your business

 

[jay]

Absolutely I don't think any company will release their secret because they are secret is the success they are maintaining and building on so it was like for every other person to grow their company and keep their secret. This is also applicable in Trading.

Even if they are going to expose the company's secrets, it's going to be for few people who are in trusted positions in the company because it would help with their business decisions.

 

[YERUS]

With the greedy nature of human beings coupled with selfishness,is it right to let your employees in on your trade secrets or is there any cause to be worried about being sabotaged by employees especially when managing inventory is difficult example having a restaurant and you're not around to manage it

If they are indeed trade secrets, i do not think it is wise to reveal them to your employees.
There are cases now where employees would quit and then go and establish the same business, and take all the boss' other employees. Such were as a result of exposed trade secrets.

 

[Godspower]

If they are indeed trade secrets, i do not think it is wise to reveal them to your employees.
There are cases now where employees would quit and then go and establish the same business, and take all the boss' other employees. Such were as a result of exposed trade secrets.

It might be difficult not to reveal your trade secrets to employees since they are the ones to carry out the instructions. Even some high-level staffs might decide to leak your business strategies to outsiders once they are no longer in your employ.

 

[Dagm1]

This relies on your conviction to show them or not, but it's probably something you'll keep hidden because it might be used against you.

 

[jay]

The reason why it is not advisable for you to make known your business secrets to your employees is that some of them might be affiliated to your business rivals and they can actually leak your business secrets for a little extra pay.

 

[Thinker009]

I think it's not just all about been selfish but wise , because if the employee learns about your trade secret , he or she might go to tell others ,which might then affect the amount of profit you could make from your business

 

[Good-Person]

I have always wondered how come KFC is able to maintain its secret recipes despite having so many branches around the world and so many employees.

 

[Adecyptii]

Just as you said humans are greedy,I think some of the secret one should just keep it for himself,but if it happens to be that you trust the employee,you can share everything with him.

 

[Good-Person]

I believe that it might be really hard to keep your secrets when you tend to share them with more and more employees. The more you share, the higher the chances are that your company's secrets will be unveiled. I believe that the company's secrets should not be shared at all.

 

[Smiles20]

There are some secrets about your business that are only supposed to be known by you no matter the situation on ground. There are also some that it is ok for you to tell people that you trust to some certain extent.

 

[Setho]

You cannot deny that there are some of your trade secrets that are the reason why your business is becoming successful. This kind of secret and not to be left out to anybody no matter how close you are to them.

 

[Alexandoy]

Just the other night I was watching a documentary on factories that Coke has been mentioned. It is the most guarded secret in the business industry - the formula remains a secret until now. It was not detailed how the formula was protected but I guess there are trusted executives who handle that part of the operation.

 

[mayumi97]

As far as practicable, business owners should guard their trade secrets and keep it to themselves or within their trusted circle. However, when the business grows, the owner will likely need to delegate and entrust the secret to the managers or trusted employees. A business owner can try to safeguard the secret by delegating it to several individuals so that each individual only knows a share of the secret.

 

[ganibade]

To trade secret in the presence of employees has not nothing but less arm to the business. When employee notice how money entered in to the account of enterpreneur,they will request for increment of salary and allowance,this can cause misunderstanding between employer and workers in establishment.