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A trade secret is a form of intellectual property comprising confidential information that is not generally known or readily ascertainable, derives economic value from its secrecy, and is protected by reasonable efforts to maintain its confidentiality. [1] [2] [3] Well-known examples include the Coca-Cola formula and the recipe for Kentucky ...
Know-how shall mean technical data, formulas, standards, technical information, specifications, processes, methods, codebooks, raw materials, as well as all information, knowledge, assistance, trade practices and secrets, and improvements thereto, divulged, disclosed, or in any way communicated to the Licensee under this Agreement, unless such ...
A trade secret is any “formula, pattern, device or compilation of information which is used in one’s business, and which gives [the employer] an opportunity to obtain an advantage over competitors who do not know or use it.” [2] "New York courts typically consider the following factors in determining whether there is a trade secret: (1 ...
The Uniform Trade Secrets Act (UTSA), published by the Uniform Law Commission (ULC) in 1979 and amended in 1985, is a model law designed for adoption by U.S. states. [1] It was developed to resolve inconsistencies in the treatment of trade secrets across different states.
The Directive (EU) 2016/943 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure is a directive of the European Parliament and the European Council which was adopted by the European Council on 27 May 2016, following an agreement reached with the European Parliament on 15 December 2015, [1] and amendment by the ...
Image credits: sfbiker999 Your rank within it can heavily influence the number of secrets you learn about your industry. A 2024 survey revealed that executives are 2.5 times more likely than entry ...
It dates back to antiquity, and was successfully used to keep the secret of Greek fire. [ 1 ] The basis for compartmentalization is the idea that, if fewer people know the details of a mission or task, the risk or likelihood that such information will be compromised or fall into the hands of the opposition is decreased.
In Canada, trade secrets are generally considered to include information set out, contained or embodied in, but not limited to, a formula, pattern, plan, compilation, computer program, method, technique, process, product, device or mechanism; it may be information of any sort; an idea of a scientific nature, or of a literary nature, as long as they grant an economical advantage to the business ...