A trade secret is any information that gives your business a competitive advantage over its rivals and is unknown to the public. While trade secrets fall outside of formal intellectual property such as patents, copyrights, and trademarks, it is similar in the sense that trade secrets can include formulas, processes, methods, techniques, designs, customer lists, marketing strategies, or any other confidential data that is valuable to the owner and is kept secret.
Unlike patents, copyrights, and trademarks, intellectual property laws do not protect trade secrets. Instead, trade secrets are protected by contract, tort, and state laws that vary from jurisdiction to jurisdiction. Trade secrets are essential for businesses because they can provide a significant competitive edge, increase the value of the business, and foster innovation and creativity. Talk with our business and contract lawyers in Denver to learn more and get protection for your trade secrets.