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:
“The Creator has not thought proper to mark those in the forehead who are of stuff to make good generals. We are first, therefore, to seek them blindfold, and then let them learn the trade at the expense of great losses.”
—Thomas Jefferson (1743–1826)
“The secret of culture is to learn, that a few great points steadily reappear, alike in the poverty of the obscurest farm, and in the miscellany of metropolitan life, and that these few are alone to be regarded,—the escape from all false ties; courage to be what we are; and love what is simple and beautiful; independence and cheerful relation, these are the essentials,—these, and the wish to serve,—to add somewhat to the well-being of men.”
—Ralph Waldo Emerson (1803–1882)