Trade secrets are manufacturing, industrial, and commercial secrets. More particularly, a trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information that:
- is not generally known to members of the public;
- confers an economic benefit on its holder (where the benefit is the result of the information not being generally known, as opposed to the value of the information itself); and
- is the subject of reasonable efforts to preserve its secrecy.
Keohane & D’Alessandro counsels clients on protecting trade secrets, offering:
- Non-Disclosure Agreements
- Non-Compete Agreements
- Employment Agreements
- Independent Contractor Agreements
- And Other Related Agreements
The law of trade secrets allows an individual or entity to have a perpetual monopoly over confidential information. Unlike many other forms of intellectual property, there is no term limit. A trade secret, however, is not protected from another person independently duplicating the information, process, compilation, etc., which constitutes the secret. Probably, the most famous example of a trade secret is the recipe for Coca-Cola®.
Contact Keohane & D’Alessandro today to schedule a free consultation regarding your trade secret matters.