How long does a trade secret last?

In Massachusetts, trade secrets can last indefinitely so long as the owner takes reasonable measures to keep it secret. Generally, a trade secret is any information that is valuable to the owner of the secret and is not known to the public. Common examples include customer lists, manufacturing processes, and software algorithms. To protect their secrets, owners must take reasonable steps to keep the information confidential. This includes having employees and business partners sign non-disclosure agreements, restricting access to the information, and requiring that employees and business partners do not share the information with anyone else. The Massachusetts courts have held that a trade secret is legally protected as long as use of the secret provides the holder with a competitive advantage over competitors. This means that trade secrets can last for a long time if they can still provide an advantage even if known to the public. A party holding a trade secret may also need to renew these measures periodically to ensure that the secret remains protected. It is important to keep in mind that while trade secrets can last indefinitely, others may independently discover similar information and use it to their advantage. If a competitor has obtained information through legitimate means, they are not obligated to keep that information secret and the trade secret holder may have limited recourse against them.

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