Alabama Trade Secret Policy Manual with Employees, Consultants, and Licensees
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FAQ
Answer. Absolute secrecy is not required.It must have actual or potential commercial value because it is secret.
The following tips are for businesses that wish to protect their trade secrets:Identify What Needs Protection.Label Documents That Contain Protected Information.Monitor Where Information is Stored.Secure Computers.Maintain Secrecy With Outside Vendors.Provide Adequate Security.Limit Public Access to the Company.More items...
The following tips are for businesses that wish to protect their trade secrets:Identify What Needs Protection.Label Documents That Contain Protected Information.Monitor Where Information is Stored.Secure Computers.Maintain Secrecy With Outside Vendors.Provide Adequate Security.Limit Public Access to the Company.More items...
A trade secret: is information that has either actual or potential independent economic value by virtue of not being generally known, has value to others who cannot legitimately obtain the information, and. is subject to reasonable efforts to maintain its secrecy.
11 strategies for protecting trade secretsDesignate a trade-secret compliance officer.Include protection in training programs.Limit disclosure of confidential information.Require confidentiality agreements.Limit the copying of confidential materials.Require immediate return of all confidential information.More items...?
As regards confidentiality, it was held that every customer list cannot qualify as confidential information or a trade secret unless the confidentiality around such a list is of economic value/business value/commercial value.
Examples of trade secrets include:KFC's secret blend of 11 herbs and spices.Coca-Cola's recipe for their signature drink.Google's search algorithm.McDonald's Big Mac special sauce.Secret client lists at any company.
Trade Secrets and Former Employees: Memorized Client Lists Can Still Be Protected as a Secret. The Supreme Court of Ohio has ruled that the use of a memorized client list by a former employee can constitute a trade secret violation.
Trade secrets may take a variety of forms, such as a proprietary process, instrument, pattern, design, formula, recipe, method, or practice that is not evident to others and may be used as a means to create an enterprise that offers an advantage over competitors or provides value to customers.
Anything that is easily and completely disclosed by the mere inspection of a product put on the market cannot be a trade secret.
