Trade Secrets

Trade Secrets

Trade Secrets are secret information including formulas, procedures, devices, designs, compilations, plans, patterns, techniques, prototypes and programs that derives commercial value because it is secret.  Unlike other types of intellectual property that are protected through public use or a public filing, Trade Secrets are protected when reasonable efforts have been made to keep them secret.  Trade Secret protection continues until independent discovery or failure to maintain secrecy.

Trade Secrets are protectable under state law usually modeled after the Uniform Trade Secrets Act and under federal Law under the Defend Trade Secrets Act.  Courts can enjoin misappropriation, order steps to maintain secrecy, and order royalty payments and damages.