Trade Secrets

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A trade secret is a formula, pattern, physical

device, idea, process, or compilation of information which is not generally known or

reasonably ascertainable, by which a business can obtain an economic advantage over

competitors or customers.

What is a trade secret?

a formula for a sports drink survey methods used by professional pollsters recipes a new invention for which a patent application

has not yet been filed marketing strategies manufacturing techniques computer algorithms

Examples of Potential Trade Secrets

Secrecy

What is required to maintain a trade

secret?

Restrict access to the information (lock it away in a

secure place, such as a bank vault) Limit the number of people who know the

information Have the people who know the trade secret agree

in writing not to disclose the information (sign non-disclosure agreements)

Have anyone that comes in contact with the trade secret, directly or indirectly, sign non-disclosure agreements

Mark any written material pertaining to the trade secret as proprietary

Ways to Protect Trade Secrets

Unlimited duration -trade secrets could

potentially last longer than patents (20 years) and copyrights

Your protection is theoretically worldwide No application required No registration costs No public disclosure or registration with

government agency Effective immediately

Advantages of Trade Secret Protection

Thank You