What Are Trade Secrets?

Full Video Transcript

A trade secret can be any information which isn’t generally known or readily ascertainable about a business and has economic value. For instance, techniques, customer lists, programs, methods, business processes, and even pricing information could be considered trade secrets. Even information, such as overhead rates and profit margins that help define a price, could potentially be found to be a trade secret, even if the price itself is known. Today, the value of a company’s intangible assets sometimes exceed those of its tangible assets. So businesses naturally want to protect them. However, the key is continuous protection of those secrets in order to protect your rights, rather than a single grant of protection by a federal agency. For more information about trade secrets or protecting your business’s intellectual property, contact an attorney in your area today.