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A type of intellectual property that consists of a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

A United States federal law enacted in 1996 making the theft or misappropriation of a trade secret a federal crime.

Occurs when someone acquires the trade secret through improper means or discloses or uses a trade secret without permission from the owner.

Legal contracts creating a confidential relationship between parties to protect any type of confidential information or trade secrets and to deter the spread of the information.

Practical steps taken by a business to safeguard its trade secrets, like employee training, limiting access, and implementing IT security.

A legal requirement for the protection of trade secrets, where the owner must take reasonable measures to keep the information secret.

A principle in trade secret law that allows a court to prevent an ex-employee from working for a competitor if the employment would inevitably lead to the disclosure of trade secrets.

A 2016 United States federal law that allows an owner of a trade secret to sue in federal court when its trade secrets have been misappropriated.

Contracts between an employee and an employer where the employee agrees not to enter into competition with the employer after the employment period is over.

A systematic evaluation of a company's trade secret management practices to assess the adequacy of trade secret protection measures and identify any vulnerabilities.

The process of dismantling and inspecting a competitor’s product to determine its trade secrets, which is a lawful practice as long as the product was obtained legally and not covered by an agreement to refrain from such activities.

Benefits gained by businesses that possess and maintain trade secrets, enabling them to operate more effectively or to have exclusive market opportunities.

In relation to trade secrets, these are methods of acquiring trade secret information that are against the law or societal norms, such as theft, bribery, misrepresentation, or a breach of a duty to maintain secrecy.

Occurs when the owner of a trade secret grants permission to another party to use the trade secret under specified conditions, usually in return for financial compensation.