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:
“My own experience has been that the tools I need for my trade are paper, tobacco, food, and a little whisky.”
—William Faulkner (1897–1962)
“We have always said that in our war with the Arabs we had a secret weapon—no alternative.”
—Golda Meir (1898–1978)