What is a Trade Secret?

A trade secret encompasses any information that can be used in the operation of a business  and that is valuable, secret, and affords an actual or potential economic advantage over others.

The law protects trade secrets if certain legal requirements are met. However, unlike patents, copyrights and trademarks, there is no office or agency where you can file a trade secret application, obtain a review by a qualified examiner, and be issued an official trade secret certificate.

The legal protection of a trade secret requires viigilant action by its owner. Once a trade secret is lost, it is lost forever.