Proprietary software code is software that is usually owned by the person or firm who has developed it. Typically, there are restrictions in place regarding its use and the underlying source code for the software is a closely guarded secret. Software code can be very valuable, and is often hard to patent, meaning that it can lack the protection that registered IP receives. Software code can contain algorithms, data analysis properties or data consolidation and can often be just as valuable as the software it might relate to.
Although the source code itself will automatically be protected by copyright, provided it is original code that has not been copied from another source, protection does not extend to the ideas behind the software. It may be worthwhile for your company to undertake risk mitigation measures in relation to source code and software specifications in order to keep them confidential and limit the possibility of infringement.
If you’re interested in finding out more about additional measures your company can take to avoid compromising the competitive advantage your proprietary software code provides, feel free to give us a call!