   a trade secret is an invented formula, practice, process, design, instrument, pattern, commercial method, or compilation of information which is not generally known or reasonably ascertainable by others, and by which a business can obtain an economic advantage over competitors or customers. executive trade secrets, 87 notre dame law review (2012), available at: http://ssrn.com/abstract=2047462 in some international jurisdictions, such secrets are referred to as "confidential information", but are generally not referred to as "classified information" in the united states, since that refers to government secrets protected by a different set of laws and practices. ==definition== the precise language by which a trade secret is defined varies by jurisdiction (as do the particular types of information that are subject to trade secret protection). however, there are three factors that, although subject to differing interpretations, are common to all such definitions: a trade secret is information that: * is not generally known to the public; * confers some sort of economic benefit on its holder (where this benefit must derive specifically from its not being publicly known, not just from the value of the information itself); * is the subject of reasonable efforts to maintain its secrecy. these three aspects are also incorporated in the trips agreement in article 39.http://www.wto.org/english/tratop_e/trips_e/t_agm0_e.htm by comparison, under u.s. law, "a trade secret, as defined under (3) (a), (b) (1996), has three parts: (1) information; (2) reasonable measures taken to protect the information; and (3) which derives independent economic value from not being publicly known".common issues and challenges in prosecuting trade secret and economic espionage act cases, u.s. attorneys' bulletin, at 7 (nov. 2009). == protection == trade secrets are by definition not disclosed to the world at large. instead, owners of trade secrets seek to protect trade secret information from competitors by instituting special procedures for handling it, as well as technological and legal security measures. legal protections include non-disclosure agreements (nda) and non-compete clauses. in exchange for an opportunity to be employed by the holder of secrets, an employee may sign an agreement not to reveal his or her prospective employer's proprietary informatio
Intellectual_property_law Secrecy Trade_secrets