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ARTICLE · 27 AUGUST 2024

Preserving Trade Secrets: Best Safeguards & Practices For Confidential Information

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Trade secrets are a vital component of a company's intellectual property portfolio giving them a competitive advantage over their competitors in the industry.

NigeriaIntellectual Property
Adeife Omolumo
Adeife Omolumo
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Trade secrets are a vital component of a company's intellectual property portfolio giving them a competitive advantage over their competitors in the industry. For this reason, it is important that trade secrets are adequately protected to ensure not only the company's survival but also its continued profitability.1

TRADE SECRETS AND CONFIDENTIAL INFORMATION

Trade secrets are confidential information which have economic value because they are not generally known to the public. Interestingly, trade secrets are protected without the need for registration. There are no procedural requirements for their protection. As long as it is not discovered, legally acquired by others, or revealed to the public, trade secrets can be protected for an unlimited period of time.

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