How do you create a trade secret?

Creating a trade secret in Massachusetts requires following specific steps in order to guarantee its legal protection. Step 1: Identify the information that needs to be kept confidential. A trade secret can include anything from a recipe, to a process or a machine. Generally, to qualify as a trade secret, any information that has value to the company must be kept from competitors. Step 2: Make sure the information is not already public knowledge. Information that is already public knowledge or something that can be easily reverse-engineered can not be protected by a trade secret. Step 3: Take steps to keep the information secure. This includes limiting access only to those who need to know and physically locking away any documents related to the trade secret. It is also important to keep the documents off of any networked computer systems since it is more difficult to keep track of who has access to the information. Step 4: Mark the information as confidential. Including a legend, or mark, on any documents related to the trade secret is a good way to remind those who have access that the information is confidential. It is also important to remind all those with access to the information of their obligation to keep it confidential. Step 5: Require anyone who has access to the information to sign a non-disclosure agreement. Non-disclosure agreements are a legally binding agreement between the company and the person who has access to the trade secret. The agreement will outline the terms of access and the consequences for sharing the information. By following these steps, a trade secret in Massachusetts can be legally protected, and its rights will be enforced by the courts.

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