What can be done to remedy the situation once confidential information has already been disclosed?
Minneapolis patent attorney Tim Grathwol explains how an unwanted disclosure of confidential information can be remedied.
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So, once confidential information has been disclosed, or if it is disclosed – which does happen actually, quite often – is there anything that you can do to remedy that situation? So, it depends on the situation. It depends on what you’re concerned with. So for example, if you were concerned with obtaining a patent in the US, you have a one year grace period between the time that you disclose and the time that you file your patent. So in that case, you could potentially recover or maintain the ability to file and get a patent on that invention, as long as you’re diligent about pursuing that patent. You don’t want to sit on that disclosure for too long. You have one year, and that’s it.
In terms of other types of confidential information, you may be able to – if the party is amenable, if it’s a partner or vendor, you may be able to reach an agreement with them not to further disclose that information; to guard it within their company.