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Trade secret is a specific process, formula, design or method which is not easily ascertainable by others and is kept as a secret. In other words it can also be classified as confidential information. In order to qualify as a trade secret the information must be maintained in a particular manner and must have certain essentials as only then can it be classified as a trade secret. For information to be classified as a trade secret it must be:
If the information does not have any of the above stated features then it cannot be classified as a trade secret and cannot be granted protection as a trade secret either. Financial records and data, business plans and strategies, customer lists, details of employees all of this can be classified as a trade secret of a business entity provided it is maintained as a secret. All these details if leaked out to the competitors of the business entity can have devastating effect. It is for this reason that the business entities must take reasonable steps to ensure their respective trade secrets are secure and well protected.
The legal mechanisms which can be employed to further ensure the protection of these trade secrets are:
The services offered by us in this regard include:
We at Biz & Legis understand the importance of your confidential information and we assure you that we would all the needful in order to ensure that your trade secrets are well secured