What factors determine whether something is a “trade secret”?

Trade Secret Factors Trade Secrets Intellectual Property

What factors determine whether something is a “trade secret”?

The factors include:

(1) the extent to which the information is known outside the business;

(2) the extent to which it is known to those inside the business, i.e., by the employees;

(3) the precautions taken by the holder of the trade secret to guard the secrecy of the information;

(4) the savings effected and the value to the holder in having the information as against competitors;

(5) the amount of effort or money expended in obtaining and developing the information; and

(6) the amount of time and expense it would take for others to acquire and duplicate the information.

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