Trade Secrets In Uk
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FAQ
Though the company may not wish to document some trade secrets for fear that some important secrets may be omitted from the documentation process, the better approach, on balance, is to spend time identifying trade secrets and to document their secret status and the value that their secret status confers on the company ...
In order for information to be protected as trade secret, it shall meet the following criteria. The information must be secret (i.e., it is not generally known among, or readily accessible, to circles that normally deal with the kind of information in question). Absolute secrecy is not required.
Using trade secrets For example, the ingredients and/or formulation of foodstuff, pharmaceutical product or perfume, which would be difficult for someone else to find out simply from examining the product itself. In these cases, a trade secret might provide the right kind of protection.
Trade secrets encompass both technical information, such as information concerning manufacturing processes, pharmaceutical test data, designs and drawings of computer programs, and commercial information, such as distribution methods, list of suppliers and clients, and advertising strategies.
A trade Secret is a particular type of commercially valuable confidential information, such as a formula, pattern, compilation, program, device, method, technique, or process, that provides a business with an economic advantage over competitors or customers.