A trade secret is any practice or process of a company that is generally not known outside of the company. Information considered a trade secret gives the company acompetitive advantageover its competitors and is often a product of internalresearch and development. To be legally considered a trad...
The meaning of TRADE SECRET is something (such as a formula) which has economic value to a business because it is not generally known or easily discoverable by observation and for which efforts have been made to maintain secrecy.
Atrade secretis information that is considered to give a competitive edge to a business. This “competitive edge” is commonly in the form of processes, plans, or data. Keeping it a secret is a serious matter as anymisappropriationcould result inlitigation, fines, and/or punitive damages. Ex...
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Examples from the Corpustrade secret•"What's therecipe?" "Sorry, that's atrade secret."•There arestrictlaws againstrevealingtrade secrets.
Source codes for laptop applications and the recipe for Coca-Cola® are frequent examples of trade secrets. The important requirement for trade secret safety lies in maintaining the secret. Strategies or data revealed to the general public can't be protected under trade secret legal guidelines. ...
What is a trade secret? A simple label declaring a trade secret will not invoke legal protections. And, what may constitute a trade secret is often particular to the business. Familiar examples of trade secrets include: internal financial information, customer lists, supplier agreements, formulae,...
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Examples of such procedures are set forth below. Handling and Storage. Materials containing trade secrets should be required to be marked, stored, and handled with sufficient care to maintain their confidentiality. Undocumented trade secret information also should be maintained with sufficient care to ...
Examples of trade secrets include: Manufacturing processes Customer lists Pricing strategies Software algorithms Chemical formulas Marketing plans Unlike patents, trade secrets don’t expire as long as they remain secret. However, if the information becomes public, you lose protection. Use non-disclosure...