Say What? Terminated Employees ‘Own’ Their LinkedIn Accounts (and the Company’s Trade Secrets)?
Lane Powell Shareholder Mike Reilly authored an article in Seattle Business magazine’s July issue titled “Say What? Terminated Employees ‘Own’ Their LinkedIn Accounts (and the Company’s Trade Secrets)?” In the article, Reilly discussed the potential for companies to lose trade secret protection of their business contacts via social networking sites, such as LinkedIn, and why all companies should have a social media policy.
Companies are getting a big surprise these days: Employees are leaving with their LinkedIn accounts and the company’s proprietary list of business contacts. LinkedIn is a well-known, business-oriented social media website that allows account holders to add business contacts and develop a network. Companies are mistakenly letting employees add the firms’ business contact lists to employees’ LinkedIn accounts.