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Trade secrets

Trade secrets are IP rights on confidential information which may have economical value.

In general, to qualify as a trade secret, the information must be:

  • Commercially valuable because it is secret
  • Be known only to a limited group of persons
  • Be subject to reasonable steps taken by the rightful holder of the information to keep it secret, including the use of confidentiality agreements for anyone that has access to the information

Although our IP Policy cover “trade secrets”, it is better and more accurate to use the term “confidential information”, as the reasonable steps criteria is hard to implement in an academic setting.

 

When to consider Trade Secrets?

Trade secrets are generally used to:

  • Keep IP confidential “forever”
  • Protect valuable IP that is difficult to protect by other means
  • Keep security sensitive technology from public domain

AI-based technology is difficult to patent.  Companies are increasingly turning to trade secrets to protect their AI IP.

The food industry is another market that relies heavily on trade secrets.

Example of famous trade secrets: Google search algorithm, Coca-Cola recipe, WD-40, Listerine, KFC recipe.

Here is a short video about trade secrets by the World Intellectual Property Organization: