Trade Secrets

Full Video Transcript

A trade secret is a business process or formula that is to be kept completely secret from the public. Unlike other forms of intellectual property, it is not filed with an agency. It is kept protected within a company and as a business grows, there comes a time when trade secrets must be revealed to certain employees. To mark a trade secret there are measures that should always be taken with each and every individual who may learn something about the trade secret. Options include the signing of a confidentiality agreement that specifies the company’s expectation of confidentiality and the consequences of sharing the secret with an unauthorized individual or company. A typical trade secret marking requirement may be as simple as the words “Proprietary material belonging to the business” stamped on a document. Often it makes sense to purchase a stamp with this type of language to facilitate the marking.

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