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Identify and protect confidential information

From proprietary formulas to production processes to marketing strategies, both service buyers and sellers have critical assets that need protection to preserve value.

Pw 2188 Jeff Hechtman

Information that has value should be protected, and this is true in contract packaging as well, whether you’re a service buyer or a service provider. Confidential information can take many forms.  Some companies have unique processes while others have formulas, marketing strategies, or customer lists that have taken years to develop and need to be protected from competitors. Other businesses seek to veil a product or innovative packaging in secrecy for a limited period of time while the product is being prepared for introduction into the market.

The common thread among these valuable assets is the need for both consumer packaged goods companies and contract packaging companies to prevent disclosure in order to preserve value.

The starting point for protecting valuable information is for the service buyer or the service provider to treat the information it seeks to protect as though it is confidential. Failure to do so could dilute a company’s competitive edge, leave the company vulnerable to misappropriation, and create a weakness that competitors can exploit.

The issues related to protecting confidential information are manageable, and a well-informed CEO or product manager should thoughtfully consider what information needs protection and take steps to protect that information. This article provides a roadmap of how to protect confidential information.

Identify value and access

The first step is to identify the information that needs to be protected. What type of information is valuable to your company? What information is essential or unique to your business? The value of a business can be tied to anything from a secret sauce to a customer list. Therefore, knowing the source of value is critical to adequately protecting a business.

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