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 trade of advertising is now so near perfection that it is not easy to propose any improvement. But as every art ought to be exercised in due subordination to the public good, I cannot but propose it as a moral question to these masters of the public ear, whether they do not sometimes play too wantonly with our passions.”
—Samuel Johnson (1709–1784)
“The secret of my influence has always been that it remained secret.”
—Salvador Dali (1904–1989)