Trade Secrets: A Comparative Perspective Of Their Protection And Enforcement

Trade secrets are information about a trade or business that is known only to a small number of people and has an economic value. They can take the shape of a formula, technical know-how, or a unique business approach, recipes, processes, software codes, customer lists, supply channels, or financial data. Trade secrets are information that can cause harm if exposed to a competitor. They can include technical data such as blueprints, computer programs, manufacturing process data, and commercial specifics such as client databases, advertising tactics, and delivery systems. Trade secrets are tools which support and incentivize the innovation of a business, lay a foundation for contracts, such as the Non-Disclosure Agreements (NDA) and employment contracts and protect the market strategies of a business. Misappropriation of Trade secrets happens when it is obtained through the abuse of confidential information or improper means of accession.