Trade secret

Intellectual property
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Trade secrets or confidential commercial information are a type of intellectual property (IP) that includes formulas, practices, processes, designs, instruments, patterns, or compilations of information that have inherent economic value because they are not generally known or readily ascertainable by others, and which their owner takes reasonable measures to keep secret.^[1] Intellectual property law gives the owner of a trade secret the right to restrict others from disclosing it.

Oftentimes, trade secrets are key components of an IP portfolio that strengthen a business's competitive edge. Like other IP assets, they may be sold or licensed. In principle, unauthorized acquisition, use or disclosure of a trade secret by others in a manner contrary to honest commercial practices is considered misappropriation of the trade secret. If trade secret misappropriation happens, the trade secret holder can seek various legal remedies.^[2]

No registration is necessary to obtain trade secret protection. As long as the information qualifies as a trade secret, it is protected indefinitely.^[2]

In some countries, trade secrets are referred to as confidential information.