Trade Secrets

Trade secrets are ideas, formulas, or processes which provide the owner with an advantage in the marketplace and are reasonably expected to be kept secret. Trade secret protection is available for information which is set out as confidential. This can be done by preparing non-disclosure and confidentiality agreements which establish a duty of confidentiality. Some people may be bound automatically by a duty of confidentiality due to the nature of their relationship with the company and whether they frequently come in contact with the information.