Competitive advantage can be defined as the set of internal attributes that a company has to develop in order to obtain and maintain superiority over its competitors.
This competitive advantage is becoming more and more relevant with respect to certain skills and qualities that contribute to a company obtaining profitability in the market against its main competitors, since it will allow it to stand on its own feet and achieve its objectives by increasing brand value and loyalty, as well as bringing innovation to the sector. In this article we mention some of the elements or processes that can constitute a company’s competitive advantage and how to protect them:
Non-Disclosure Agreements (NDAs)
Confidentiality agreements are legal documents that protect sensitive company information from being disclosed to third parties. It can be signed by two or more companies or it can be signed between a company and an employee, for example, in a business contract.
Currently NDAs are made and signed privately between the parties and simply “kept in a drawer”, but it is much more interesting to register them publicly to create a legal liability that discourages a possible breach or disclosure of its contents. But how can we implement the signing and registration of an NDA in a simple way and without spending almost no money?
To register and protect all types of agreements and trade secrets iCommunity Labs relies on Certyfile. A secure, instant and immutable document certification service with worldwide validity that, thanks to the digital trace and time stamping provided by blockchain technology, provides the best digital evidence to guarantee the ownership and confidentiality of a document. In this way the figure of the “trusted third party” (such as a notary) is replaced by a mathematical proof provided in a decentralized way by the blockchain technology.
Technology transfer agreement
Technology transfer agreements are a type of contract that corresponds to the transfer of product and process knowledge between the development and manufacture of products or services. They are becoming increasingly important, given the growing role that technology plays at the level of business success, but there are several details to keep in mind when entering into a technology transfer agreement.
- Establish the possibility of the technology being registered: this problem is easily solved with Certyfile, since the technology can be registered at the same time as the agreement in the blockchain network immediately, so that it can later be patented in an institution.
- Define clauses: in the Certyfile platform, the complete agreement and its clauses, such as the one that determines the exclusivity regime or the non-competition and confidentiality covenants, can be registered at the same time.
The set of actions and operations that take place from the procurement of raw materials to the sale of the final product is defined as the manufacturing process. During this process, business and industrial secrets are generated. All this information is classified as confidential, as it provides a competitive advantage over the competition. This data can be recorded on the blockchain using Certyfile. Due to its immediacy and low cost, access to this utility is available to everyone.
In summary, Certyfile is the most advanced decentralized digital notary solution on the market that offers the possibility of registering all types of agreements and trade secrets, generating accountability between the parties while ensuring the confidentiality and immutability of its content.