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:
“...to many a mother’s heart has come the disappointment of a loss of power, a limitation of influence when early manhood takes the boy from the home, or when even before that time, in school, or where he touches the great world and begins to be bewildered with its controversies, trade and economics and politics make their imprint even while his lips are dewy with his mother’s kiss.”
—J. Ellen Foster (1840–1910)
“There will be but few people who, when at a loss for topics of conversation, will not reveal the more secret affairs of their friends.”
—Friedrich Nietzsche (1844–1900)