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 most conservative man in the world is the British Trade Unionist when you want to change him.”
—Ernest Bevin (1881–1951)
“It’s a queer sensation, this secret belief that one stands on the brink of the world’s greatest catastrophe. For it means the fall of Western Europe, as it fell in the fourth century. It recurs to me every November, and culminates every December. I have to get over it as I can, and hide, for fear of being sent to an asylum.”
—Henry Brooks Adams (1838–1918)