- trade secret
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trade se·cret n: a formula, process, device, or item of information used by a business that has economic value because it is not generally known or easily discovered by observation or examination and for which reasonable efforts to maintain secrecy have been made◇ Trade secrets are a form of intellectual property. Many states have enacted laws which create an action for damages or injunctive relief against misappropriation of trade secrets by improper means. Information contained in a patent is not protected as a trade secret.
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- trade secret
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n.A secret formula, pattern, plan, process, machine, or method of compiling information known and used exclusively by one business that could give competitors an advantage if they acquired it.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- trade secret
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Any formula, pattern, device, or compilation of information that is used in business, that is not generally known, and that gives the owner an opportunity to obtain an advantage over competitors who do not know it. A trade secret must also be the subject of efforts that are reasonable under the circumstances to maintain its secrecy.Category: Patent, Copyright & Trademark → Trade Secrets
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- trade secret
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USAA type of intellectual property, information (for example, formulas, drawings, patterns, compilations, programs, devices, methods, techniques or processes) which:• Provides an economic or competitive advantage to its owner because the information is not generally known by or available to third parties.• Is subject to reasonable efforts by its owner to maintain its secrecy.Trade secrets are protected primarily by state law. The specific requirements for, and scope of, protection vary from state to state, although most states have adopted a version of the Uniform Trade Secrets Act (a model law drafted by the National Conference of Commissioners on Uniform State Laws).For further information, see Practice Note, Intellectual Property: Overview: Trade Secrets (www.practicallaw.com/8-383-4565).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- trade secret
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Any valuable commercial information that provides a business with an advantage over competitors who do not have that information.
Dictionary from West's Encyclopedia of American Law. 2005.
- trade secret
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Any valuable commercial information that provides a business with an advantage over competitors who do not have that information.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- trade secret
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n.a process, method, plan, formula or other information unique to a manufacturer, which gives it an advantage over competitors. Therefore the trade secret has value and may be protected by a court-ordered injunction against use or revelation of trade secrets by an employee, former employee or someone who comes into possession of the trade secret. The employer may seek damages against such a person for revealing the secret. In addition, the owner of a trade secret involved in a lawsuit may request a "protective order" from the judge to prohibit revelation of a trade secret or a sealing of the record in the case where references to the trade secret are made. A trade secret is a business process and not a patentable invention.
Law dictionary. EdwART. 2013.
