Secret Intellectual Property
A Secret Intellectual Property is an intellectual property that has inherent economic value because it is not generally known or readily ascertainable by others, and which the owner takes reasonable measures to keep secret.
- AKA: Trade Secret.
- Example(s):
- Counter-Example(s):
- See: Confidential Information, Intellectual Property, Economic Value, Formula, Best Practice, Business Process, Design, Legal Instrument, Pattern, Jurisdiction, Intellectual Property Law, Non-Disclosure Agreement.
References
2024
- (GM-RKB ChatGPT, 2024) ⇒ Prompt: Summarize the concept Secret Intellectual Property in 1- 2 paragraphs. GM-RKB ChatGPT (model: gpt-4-1106-preview). Retrieved: 2024-01-21.
- QUOTE: Secret Intellectual Property (IP) refers to any form of knowledge, information, or data that holds value for a company or individual and is kept hidden from the public to maintain competitive advantages. This can encompass proprietary processes, formulas, designs, instruments, patterns, or any type of business intelligence that is not publicly known or disclosed through patents or copyrights. Two classic examples of secret IP are the formula for Coca-Cola and the search algorithms used by Google.
To qualify as secret IP, the information must be a) not generally known or easily ascertainable by others who can obtain economic value from its disclosure, b) the subject of reasonable efforts to maintain its secrecy, and c) have actual or potential independent economic value. Unlike other forms of IP protection, such as patents or copyrights, secret IP is protected as long as its confidentiality is maintained. If the secret is somehow leaked or independently discovered, protection is lost. To preserve the secrecy, companies typically rely on non-disclosure agreements (NDAs), employment contracts, and physical security measures.
- QUOTE: Secret Intellectual Property (IP) refers to any form of knowledge, information, or data that holds value for a company or individual and is kept hidden from the public to maintain competitive advantages. This can encompass proprietary processes, formulas, designs, instruments, patterns, or any type of business intelligence that is not publicly known or disclosed through patents or copyrights. Two classic examples of secret IP are the formula for Coca-Cola and the search algorithms used by Google.
2023
- (Wikipedia, 2023) ⇒ https://en.wikipedia.org/wiki/Trade_secret Retrieved:2023-10-22.
- A trade secret is an intellectual property that has inherent economic value because it is not generally known or readily ascertainable by others, and which the owner takes reasonable measures to keep secret. Types of trade secret include formulas, practices, processes, designs, instruments, patterns, or compilations of information.
Intellectual property law gives the owner of a trade secret the right to restrict others from disclosing it. In some jurisdictions, such secrets are referred to as confidential information.
- A trade secret is an intellectual property that has inherent economic value because it is not generally known or readily ascertainable by others, and which the owner takes reasonable measures to keep secret. Types of trade secret include formulas, practices, processes, designs, instruments, patterns, or compilations of information.