Trade secrets are among a company’s most valuable intellectual property assets. They can give a business a competitive edge, provided that they are properly safeguarded. Whether you are a startup refining a go‑to‑market strategy or an established enterprise safeguarding manufacturing know‑how, understanding what qualifies as a trade secret and what you can do to preserve it is essential.
What Is A Trade Secret?
A trade secret is information that derives independent economic value, actual or potential, from not being generally known or readily ascertainable by others who can obtain economic value from its disclosure or use, and that is subject to reasonable measures to maintain its secrecy. In plain terms, a trade secret refers to any unique and secret information that gives an owner or business a competitive business advantage because it is secret, and businesses must take reasonable steps to keep it confidential.
