Noun
trade secret (plural trade secrets)
(business) A formula, practice, process, design, instrument, pattern, or compilation of information used by a business to obtain an advantage over competitors within the same industry or profession, which kept secret from those competitors or the public.
Accordingly, while the number of trade secret claims brought in federal court will no doubt increase, that increase may be somewhat marginal. Source: Internet
A significant number of criminal trade secret prosecutions brought during the Trump administration’s first year reflected a focus on preventing foreign interference in U.S. intellectual property rights. Source: Internet
It is for this reason that trade secret owners shred documents and do not simply recycle them. Source: Internet
In 1974, the United States Supreme Court issued the landmark decision, Kewanee Oil Co. v. Bicron Corp., which resolved the question in favor of allowing the states to freely develop their own trade secret laws. Source: Internet
Because the algorithm is known, it is no longer a trade secret. Source: Internet
Conversely, trade secret owners who cannot evidence reasonable efforts at protecting confidential information risk losing the trade secret, even if the information is obtained by competitors illegally. Source: Internet