A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers. In some jurisdictions, such secrets are referred to as "confidential information", but should not be referred to as "classified information", due to the nature of the word "classified" in the USA.
Read more about Trade Secret: Definition, Protection, Comparison With Trademarks, Comparison With Patents, Trade Secret Protection, Discovering Trade Secrets, Cases
Famous quotes containing the words trade and/or secret:
“We are the trade union for pensioners and children, the trade union for the disabled and the sick ... the trade union for the nation as a whole.”
—Edward Heath (b. 1916)
“I’ve been cursed for delving into the mysteries of life. Perhaps death is sacred, and I’ve profaned it. Oh, what a wonderful vision it was. I dreamed of being the first to give to the world the secret that God is so jealous of, the formula for life. Think of the power, to create a man. And I did, I did it, I created a man. And who knows, in time I could have trained him to do my will. I could have bred a race, I might even have found the secret of eternal life.”
—William Hurlbut (1883–?)