In an information-based economy, knowledge is one of your most important business resources. Keeping certain information confidential is essential for any business to retain a competitive advantage. Certain information will be deemed confidential - and therefore proprietary under the law - and will automatically receive legal protections. Most business information, however, will not be considered confidential unless there is a contractual agreement between the parties that such information shall be deemed confidential. Even then, information the parties have agreed is confidential under the agreement can lose its protected status if that information winds up in the public domain or is disclosed by someone who does not have an obligation to keep it confidential. Here are some simple tips to make sure such information remains confidential and does not lose its protected status:

Have all employees sign nondisclosure/confidentiality agreements

While the enforceability of such agreements are the subject of much litigation, one fact is certain: It is much better for an employer to have such an agreement in place than to not have one. You should make it your general business practice to have all employees sign these agreements as part of their initial employment paperwork.