What are some common examples of trade secrets?

Trade secrets are confidential information used to generate business value and gain competitive advantage. In Washington, trade secrets are legally protected by trade secrets law. Common examples of trade secrets include formulas, processes, designs, customer lists, source codes, manufacturing methods, and plans. For instance, a company might have a unique process for producing a product or a secret recipe for a certain type of food. Similarly, a company might have confidential customer lists or a unique marketing plan that it keeps secret from competitors. Trade secrets can also include the intangible elements of a business, such as the know-how that the people in that business have developed over time. This know-how or experience is difficult to replicate and gives the business a competitive advantage. Finally, companies may also have trade secrets in the information they possess about their competitors, such as pricing strategies, market research, and product plans. This information can give them a leg up over their competitors as they keep it under wraps. In short, trade secrets law in Washington protects a company’s confidential information which can include formulas, processes, designs, customer lists, source codes, manufacturing methods, plans, know-how, and information about competitors. These trade secrets provide businesses with a competitive edge.

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What are some common examples of trade secrets?

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