Trade Secrets

Trade Secrets are a less known type of intellectual property, particularly by small businesses and startups. Yet, it can be a very powerful intellectual property tool, every business should carefully consider. A trade secret is (a) any information that has either actual or potential independent economic value because it's secret, and, (b)its owner takes reasonable steps to keep it secret. Information that can be a trade secret includes formulas (e.g., chemical formulas), patterns, processes, compilations, programs, devices, methods or techniques. The Coca-Cola formula is a good example of a trade secret. A trade secret can provide a significant competitive advantage to its owner. For example, unlike a patent, a trade secret has no time limit. It can last for a very long time, as long as it is kept secret, like the Coca-Cola example demonstrates.

Trade secret disputes arise for example when a competitor steals the trade secrets of the trade secret owner. Another example is when an employee leaves a company and takes the trade secrets of the company to the new employer.

We can assist our clients in trade secret disputes, by defending them when they are accused of trade secret infringement or by enforcing their own trade secret rights.