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:
“Experience has shown that the trade of the East is the key to national wealth and influence.”
—Chester A. Arthur (1829–1886)
“Where dwells the religion? Tell me first where dwells electricity, or motion, or thought or gesture. They do not dwell or stay at all. Electricity cannot be made fast, mortared up and ended, like London Monument, or the Tower, so that you shall know where to find it, and keep it fixed, as the English do with their things, forevermore; it is passing, glancing, gesticular; it is a traveller, a newness, a surprise, a secret which perplexes them, and puts them out.”
—Ralph Waldo Emerson (1803–1882)