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A trade secret is a form of intellectual property (IP) 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.
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.
"Trade secret" means information, including a formula, pattern, compilation, program, device, method, technique, or process, that: (1) Derives independent economic value, actual or potential, from not being generally known to the public or to other persons who can obtain economic value from its disclosure or use; and (2) Is the subject of ...
Top Secret is the highest level of classified information. [5] Information is further compartmented so that specific access using a code word after top secret is a legal way to hide collective and important information. [6] Such material would cause "exceptionally grave damage" to national security if made publicly available. [7]
Trade secrets are protected by a combination of state and federal laws, which prescribe a combination of civil and criminal penalties for trade secret “misappropriation”—the improper acquisition, disclosure, or use of a trade secret. [44] Examples of trade secrets include Coca-Cola's formulas for its soft drinks and the WD-40 Company's ...
The Economic Espionage Act of 1996 (Pub. L. 104–294 (text), 110 Stat. 3488, enacted October 11, 1996) was a 6 title Act of Congress dealing with a wide range of issues, including not only industrial espionage (e.g., the theft or misappropriation of a trade secret and the National Information Infrastructure Protection Act), but the insanity defense, matters regarding the Boys & Girls Clubs of ...
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 ...
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 ...