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    Question ID:   14264         Current Version: 1
Question: What is a trade secret?
Category: Law & Ethics > Intellectual Property
Keywords: trade secret
Type: what
Rating:(0 ratings)    Views: 67    Discussions: 0   In Watch Lists: 1  

 
    Answer:
Generally, a trade secret can include a formula, pattern, compilation, program, device, method, technique or process that is used in one's business, and has independent economic value that provides an advantage over competitors who are not aware of it or use it.

Under most circumstances, a trade secret is lost once it is independently discovered.

Source: U.S. Department of Commerce

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