
What are Trade Secrets?
If you have an invention, design, or other information that is key to the success of your business, it is important to know that patents, trademarks, and copyrights are not your only options for intellectual property protections. Instead, you might be able to take certain steps to protect them as trade secrets. This means you do not have to disclose your design or formula to the public in order to obtain ownership protection. Trade secrets can involve physical devices, formulas, processes, ideas, patterns, and collections of information. In order to qualify as a trade secret, the information must: Provide you with a competitive advantage in your market Be handled in a manner that reasonably keeps the information confidential from competitors or the public If information meets the above criteria, it…