A SILENT SHIELD OF PROTECTION: TRADE SECRETS
Trade secret The term “trade secret” is not expressly defined in a singular, universal way, as it has evolved gradually at both the U.S. state and federal levels. It was first formally addressed in 1979, when the Uniform Law Commission published the Uniform Trade Secrets Act (UTSA) . Later, in 2016, Congress enacted the Defend Trade Secrets Act (DTSA) , which provided additional definitions and federal-level protection. Various judicial interpretations have followed, but certain core elements remain consistent across definitions. A trade secret generally refers to confidential information that drives a business’s success and includes the following elements: The information is secret or not publicly known. It provides economic value or a competitive advantage in the market. The owner has taken reasonable steps to maintain its secrecy. As a general principle, almost every company possesses some form of trade secret. Trade secrets can include anyth...