Presentation on theme: "Trade Secrets A Product of Creativity in Bloom Elexis Jones 2011 A project of the AIPLA."— Presentation transcript:
Trade Secrets A Product of Creativity in Bloom Elexis Jones 2011 A project of the AIPLA
A trade secret is a formula, pattern, physical device, idea, process, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.
a formula for a sports drink survey methods used by professional pollsters recipes a new invention for which a patent application has not yet been filed marketing strategies manufacturing techniques computer algorithms
Restrict access to the information (lock it away in a secure place, such as a bank vault) Limit the number of people who know the information Have the people who know the trade secret agree in writing not to disclose the information (sign non-disclosure agreements) Have anyone that comes in contact with the trade secret, directly or indirectly, sign non-disclosure agreements Mark any written material pertaining to the trade secret as proprietary
Unlimited duration -trade secrets could potentially last longer than patents (20 years) and copyrights Your protection is theoretically worldwide No application required No registration costs No public disclosure or registration with government agency Effective immediately
Formula for Coca-Cola The Big Mac Special Sauce KFC Chicken Recipe WD-40 Formula