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If trade secret protection is meant to expire, this must be explicitly stated in the agreement.

They require those with access to the information to keep it secret, particularly from competitors. The means for protecting a trade secret include non-disclosure agreements, contracts, non-compete forms, and other legal agreements. He or she can also advocate on your behalf if you believe your IP is being infringed upon.Īlthough trade secrets can sometimes be patented, to do so means that they are no longer secret since patent applications require public disclosure about the invention. If this describes your business, an intellectual property attorney can help explain your rights when it comes to protecting trade secrets. Many businesses rely on trade secrets for their operations. Trade secrets have significant value, often comprising a large portion of the business's assets. This is in contrast to patents and trademarks, forms of protected IP that are obvious to the public. Patent and Trademark Office (USPTO).įor information to qualify as a trade secret, the owner of the information must attempt to keep it confidential. For this reason, trade secrets are not registered with the U.S.

The Uniform Trade Secrets Act indicates that a trade secret provides economic value because it is not publicly known. Methods, techniques, formulas, processes, and information can all be protected as trade secrets. A trade secret must be unknown to the public and provide financial value for the business. Trade secrets examples include the types of confidential information that is protected as a trade secret by intellectual property (IP) law.