What is a trade secret?

A trade secret is any confidential information or material that has commercial value and that is kept secret. This can include a recipe, a manufacturing process, a customer list, a marketing strategy, software code, or a formula. In Washington, the Uniform Trade Secrets Act is the main law that protects trade secrets. The law specifically defines a trade secret as any information that is not publicly known, which has economic value, and which has been actively protected as a secret by its owner. To be protected under the law, the trade secret must have economic value because it is not generally known or readily ascertainable, and the owner must take reasonable measures to keep it secret. Courts may grant an injunction to stop someone from using the trade secret or they may grant damages to the owner when trade secret misappropriation has occurred.

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What is a trade secret?

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