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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 ...
Common types of intellectual property rights include copyright, trademarks, patents, industrial design rights, trade dress, and in some jurisdictions trade secrets. They may be sometimes called intellectual rights. See outline of patents for a topical guide and overview of patents.
In the United States, trade secrets are protected under state law, and states have nearly universally adopted the Uniform Trade Secrets Act. The United States also has federal law in the form of the Economic Espionage Act of 1996 (18 U.S.C. §§ 1831–1839), which makes the theft or misappropriation of a trade secret a federal crime. This law ...
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 ...
A secret ingredient is a component of a product that is closely guarded from public disclosure for competitive advantage. Sometimes the ingredient makes a noticeable difference in the way a product performs, looks or tastes; other times it is used for advertising puffery. Companies can go to elaborate lengths to maintain secrecy, repackaging ...
A German-Canadian resident of China was sentenced to 24 months in prison in the U.S. for stealing electric vehicle trade secrets from Tesla for his competing EV battery business, the U.S ...
An example of a counterfeit product is if a vendor were to place a well-known logo on a piece of clothing that said company did not produce. An example of a pirated product is if an individual were to distribute unauthorized copies of a DVD for a profit of their own. [3] In such circumstances, the law has the right to punish.
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