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Archive for the ‘Trade Secret Law’ Category

Protecting Confidential Business Information Under Trade Secret Law

Sometimes the nature of a new method of doing business or a new idea does not lend itself to effective trademark, copyright or patent protection. It may still be possible to provide some protection for these ideas through contract or trade secret law.   The formula used for the Coca Cola brand soft drink is a classic example of a successful trade secret with a long life. Unlike patent, trademark, and copyright law, the law relating to contracts and trade secrets is based on state law and may differ from state to state.   Trade secrets are generally defined as proprietary or confidential information used in a business. Trade secrets must have commercial value or provide a competitive edge. Examples of trade secrets include customer or supplier lists, marketing plans, formulas for compositions (soft drinks), and manufacturing processes. In order to qualify for trade secret protection, the subject matter must be sufficiently secret so that the use of improper means […]