The short answer
A trade secret is information that has value because it is secret and that the owner takes reasonable steps to protect. Confidentiality agreements can protect broader information by contract.
Where it fits in your case
When a departing employee or partner takes data, customers, or know-how.
What to expect
Customer lists are protectable if compiled with effort and not readily available.
Reasonable secrecy measures, such as access limits and confidentiality agreements, are required.
Remedies under the Illinois Trade Secrets Act and federal law include injunctions and damages.
Speed matters. Forensic preservation of devices and accounts should happen quickly.
What we need from you
Confidentiality agreements, access logs, the departing person’s devices, and a description of the information.
Common misconceptions
“All business information is a trade secret.” Only protected, non-public information qualifies.
“Customers are ours.” Relationships are protected only in limited ways.