What Is Trade Secret Law?

traverselegal - December 27, 2011 - Trade Secret Law, Trade Secrets

Not to be confused with trademark protection or patent law, a trade secret is, essentially, knowledge. Wikipedia defines a trade secret as “a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.” Under trade secret law, this can span a wide range of practical business assets including, but certainly not limited to, customer lists, customer needs and wants, marketing data and development processes that are specific to said company. Anything that derives independent economic value from the fact that it is proprietary knowledge can be considered a trade secret.

If you are looking to protect your trade secrets, contact an internet lawyer today who specializes in trade secret law.

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