What are Trade Secrets?

What are Trade Secrets?

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…
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4 Key Ways to Protect Your Trade Secrets

Trade Secrets
A trade secret is a unique trait that separates your business from others in your industry. A trade secret is a product, recipe, formula, design, or other factor which helps give your business a competitive edge over businesses similar to yours. A trade secret is proprietary to your company and is protected under U.S. law. To ensure your trade secrets are safe from competitors though, it is important to follow these tips to protect your company‚Äôs valuable information. Identify your trade secret: The first step in protecting your proprietary information is identifying what it is. Not all information needs to be kept secret, so you must assess what is most significant to your company and what will produce the most value for the company in the future. Another vital factor…
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