trade secret

  

Definition

Type of intellectual property such as formulary, know how, process, system, or confidential information that gives its owner a competitive advantage and unauthorized disclosure of which will harm the owner. Courts generally grant injunctions to prevent a threatened disclosure of a trade secret by the current or former employees because otherwise the relationship of trust between the employer and employee will be destroyed. The employer must, however, demonstrate that he or she actively safeguarded the trade secret and had informed the employees that it was to remain confidential.

Use trade secret in a sentence

  • The trade secret of the firm was considered only accessible with top level security clearance as it was private and vital information.

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  • Ever since I got into my father's business, I wanted to know his trade secret and also how he flourished for so many years.

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  • Sometimes you can get a lot of value from a trade secret that may help you get the better end of an important negotiation.

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