How long does a trade secret last?
In Texas, trade secrets typically last as long as the information remains secret. This means that if the information is revealed to the public, then the trade secret protection is lost. The Texas Uniform Trade Secrets Act (TUTSA) provides three different time frames for trade secrets to remain in effect: perpetual protection, reasonable protection, or protection for a set period of time. If a trade secret is perpetually protected, then the information will remain secret indefinitely. This allows the business to keep the information in secret from the public. If the trade secret is provided with reasonable protection, then the trade secret must be protected with reasonable efforts to maintain secrecy. This means that the business must use reasonable efforts to keep their trade secret information confidential. Finally, if the trade secret is provided with a specific time period, then the trade secret will remain in effect until the time period has elapsed. This time period cannot exceed two years. However, the trade secret can be renewed for another two year period if the trade secret is still confidential at that time. In summary, a trade secret can remain in effect for either an indefinite period, a reasonable period, or a specific period of time, as long as the information remains confidential.
Related FAQs
Are there legal requirements for the protection of trade secrets?Can trade secrets be licensed?
What are the requirements for trade secret protection in the European Union?
How can trade secrets be enforced?
How long do trade secrets last?
What do you need to do in order to maintain the secrecy of a trade secret?
What are the requirements for a trade secret claim?
What steps can be taken to protect trade secrets?
Is customer information protected by trade secret law?
Are trade secrets eligible for patent protection?
Related Blog Posts
What is Trade Secrets Law and Why Should Businesses be Familiar with It? - July 31, 20235 Misconceptions About Trade Secrets Law and How to Dispel Them - August 7, 2023
A Trade Secret Lawyer's Top Tips to Protect Your Business's Valuable Information - August 14, 2023
What Legal Steps Can Businesses Take To Protect Their Trade Secrets? - August 21, 2023
All You Need To Know About Trade Secrets Law and Achieving Competitive Advantage - August 28, 2023