Posts Tagged: Intellectual Property protection

What are Trade Secrets?

Small business tips - SandGarden Law GroupTrade Secrets: yours and everybody else’s

As we discussed last week, trade secrets are a type of Intellectual Property protection.   The courts define “trade secret” very broadly.  It can mean any type of confidential or secret information that gives a business a competitive edge.  Some examples of trade secrets: survey methods used by professional pollsters; formula for a sports drinks; recipes; a new but unpatented invention; manufacturing techniques; marketing strategies; and computer code or algorithms.  Trade secrets can even mean a good prospect list or supply chain.  Trade secrets are any valuable business information that is not generally known.

Generally trade secrets are most important in four types of business interactions:

The new Defend Trade Secrets Act of 2016 and how it will affect you

Small business tips - SandGarden Law GroupUnderstanding how trade secrets (and the new Trade Secrets Act of 2016) affects every business, whether you think you have trade secrets or not.

Trade secrets are a type of Intellectual Property protection. Many small businesses assume that unless they are a high tech company or an inventor, the concept of “trade secrets” does not apply to them. However, the idea of a trade secret has always been defined very broadly. It can mean any type of confidential or secret information that gives a business a competitive edge. The most famous trade secret in the business world is the recipe for Coca Cola.