How do you determine whether information is a trade secret?

When determining whether information is a trade secret in Washington, there are several factors to consider. The first factor is whether the information is of a type that has commercial value and can be used to gain an advantage in the marketplace. This includes things like customer data, business plans, and formulas. The second factor is whether the information is kept secret or confidential. This means that the information is not generally known or readily accessible by the public or competitors. The third factor is whether the company or person has taken reasonable steps to protect the secrecy of the information. This could include things like limiting access to the information or using passwords and physical locks to keep it secure. Finally, the fourth factor is whether the company or person derives economic benefit or a competitive advantage from the information. If the answer to these four factors is “Yes”, then the information can be considered a trade secret in Washington.

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How do you determine whether information is a trade secret?

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