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What is...a form of IP that derives its value from not being known by competitors? Trade Secret!

Trade Secrets

Trade Secret!

A trade secret is any information that confers economic benefit to the holder of the secret because the information is not publicly known, when the holder makes reasonable efforts to maintain its secrecy.

Trade secrets are intellectual property (IP) rights on confidential information which may be sold or licensed.

In general, to qualify as a trade secret, the information must be: commercially valuable because it is secret, be known only to a limited group of persons, and be subject to reasonable steps taken by the rightful holder of the information to keep it secret, including the use of confidentiality agreements for business partners and employees.

Trade secrets encompass both technical information, such as information concerning manufacturing processes, experimental research data, software algorithms and commercial information such as distribution methods, list of suppliers and clients, and advertising strategies.⠀

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