What is the difference between trade secrets and know-how?

Trade secrets and know-how are both forms of intellectual property that are used to protect confidential information and valuable business assets. Trade secrets are defined by the Massachusetts Uniform Trade Secrets Act as “information, including a formula, pattern, compilation, program, device, method, technique, or process, that: (1) derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and (2) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.” Know-how is a broader concept that can include trade secrets, but also business strategies and methods that are not secret. It is generally defined as “the practical knowledge and experience of a particular business or field, usually acquired by years of research and experience.” Know-how is also considered to include the processes of “know-how transfer” which is the act of passing on knowledge from one person to another. Know-how does not have to be protected by law the same way as trade secrets, but some companies may choose to do so.

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What is the difference between trade secrets and know-how?

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