What is a Trade Secret?

NDA’s won’t give you permission to protect anything that is already known publicly. A trade secret is information that has been kept secret since it was conceived and will spend the rest of its life in concealment only released to parties who are bound but a confidentiality agreements. A trade secret must have some economic value or provides a competitive advantage.

Trade Secret examples

  • Product Design Specification
  • Product Development Agreements
  • Patent Pending Applications
  • Cost and Pricing Information
  • Business Plans
  • Financial Projection or Plans
  • Data of Sales
  • Customer Contacts or Lists
  • Any unpublished material

Trade Secrets that cannot be protected

  • Failure to use reasonable efforts to maintain a secret
  • The secret is already known
  • Something that learned through independent discovery
  • Information acquired through reverse engineering.

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