Although the definition varies from state to state, in California, a trade secret is any information that derives independent economic value, actual or potential, from not being generally known to the public or to other persons who can obtain economic value from its disclosure or use, so long as the information is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Some examples of information that may potentially be protectable as a trade secret include, but are not limited to, a chemical formula, a recipe, a process of manufacturing, treating or preserving materials, a pattern for a machine or device, software source code, or a list of customers. Basically, a trade secret is any information that has value for your business because it is unknown to others. Furthermore, a trade secret's protection lasts as long as its secrecy is maintained and gives value to the business.
More often than not, businesses have potential trade secrets they use to retain a competitive advantage, yet they don't even realize that those secrets are protectable. We can help identify any trade secrets you may have, ensure you are following proper protocol in maintaining your trade secrets, and help you put in place preventative measures that will ensure their secrecy in case of misappropriation.
For more information on trade secrets, please visit our Trade Secret Resources page.
Otherwise, if you are interested in allowing us to assist you in identifying and protecting your potential trade secrets, or simply have further questions, we invite you to call 888-789-5789 or email us to schedule your FREE initial consultation, during which we can explain the trade secret process and potential costs to you in more detail.