What is trade secret protection in the United States?

Trade secret protection in the United States is a form of intellectual property law that allows a company to keep certain valuable information from being disclosed or stolen. Under trade secret protection, a business may legally protect confidential information such as customer lists, formulas, manufacturing processes, and other proprietary information. In order for a company’s confidential information to qualify for trade secret protection, three criteria must be met. First, the information must have economic or commercial value. Second, the information must be kept confidential to maintain this value. Finally, the company must have taken steps to keep the information a secret, such as using nondisclosure agreements, password-protecting files, and so on. In the United States, trade secret protection is governed by state laws, rather than federal law. In Virginia, this is known as the Trade Secrets Act. This law makes it a criminal offense to obtain, disclose, or use valuable trade secrets without the company’s permission. It also allows companies to take legal action against a person or business that misappropriates their trade secrets. If successful, the company may be awarded damages and other remedies, such as an injunction against future use of the trade secret.

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What is trade secret protection in the United States?

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