Trade Secret
A trade secret is any information about a product or process that is kept
secret by a company from competitors. Trade secrets include processes,
recipes or other techniques that are used consistently over a length of
time. Some of the most famous trade secrets include the formula for a soft
drink or the ingredients for fried chicken. Public knowledge, or widely
recognized processes cannot become trade secrets. Unlike a patented
invention or a copyrighted work, trade secrets do not have to be
originala trade secret can be a logical improvement to a process that is
not patented.
An obvious, yet important characteristic of a trade secret is the
significant degree of secrecy involved. It, therefore, serves a purpose
different from a patentsince the patent process necessarily requires the
disclosure of the specifics of an invention, a trade secret protects just
that, the specifics.
Trade secrets are typically protected through non-disclosure agreements
between employers and employees, with civil litigation the result of
violation of such an agreement.
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