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The Best Way to keep a secret is to not tell anyone, anyone or anyone(22).

December 17, 2012
The Coca-Cola logo is an example of a widely-r...

The Coca-Cola logo is an example of a widely-recognized trademark representing a global brand. (Photo credit: Wikipedia)

Trade secrets set businesses apart from their competitors., The most famous trade secret is the formula for Coca-Cola.

The theatrical poster for The SpongeBob Square...

The theatrical poster for The SpongeBob SquarePants Movie. (Photo credit: Wikipedia)

The secret recipe is kept in a vault and supposedly known by only 2 executives who signed a non disclosure agreement. I guess the 2nd most famous trade secret is the Krabby Patty sold at the Krusty Krab on SpongeBob which SpongeBob must guard with his life. Oh, that’s not real but it is definitely a good example of a trade secret.

The owner of a trade secret is obliged to take all reasonable precautions to prevent that secret from bein discovered by others. Many states have adopted the Uniform Trade Secrets Act which give statutory protection to trade secrets.

“{Broadly speaking, any confidential business information which provides an enterprise a competitive edge may be considered a trade secret. Trade secrets encompass manufacturing or industrial secrets and commercial secrets. The unauthorized use of such information by persons other than the holder is regarded as an unfair practice and a violation of the trade secret. Depending on the legal system, the protection of trade secrets forms part of the general concept of protection against unfair competition or is based on specific provisions or case law on the protection of confidential information.

The subject matter of trade secrets is usually defined in broad terms and includes sales methods, distribution methods, consumer profiles, advertising strategies, lists of suppliers and clients, and manufacturing processes. While a final determination of what information constitutes a trade secret will depend on the circumstances of each individual case, clearly unfair practices in respect of secret information include industrial or commercial espionage, breach of contract and breach of confidence.”

I guess it is another exaample of not reaping what you didn’t sow.

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