Three basic conditions must be met for information to be considered a business secret and be legally protected:

  1. information must be secret or shared in a context of confidentiality
  2. information must have commercial value due to its secrecy
  3. the holder of information must have made reasonable efforts under the circumstances of the case to keep the information secret.

A trade secret may consist of any type of information, such as formulas, processes, models, financial data, business plans, customer lists, secret products, etc.. That a firm deems valuable and which offer an advantage over its competitors.

Random Posts