News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
Event 23 Apr. 2021
Partner Borzu Sabahi to speak on Damages, Enforcement and Annulment of Arbitral Awards at Executive Training Program hosted by the Government of India and the Indian Institute of Foreign Trade
Client Alert 18 Oct. 2021
Senior Associate Martin Wolff Discusses Practical Questions with Regard to the German Implementation of the EU Directive on Cross-Border Tax Arrangements (DAC6) in Institutional Money
News 18 Oct. 2021
Jan Krupski Joins Curtis as a Partner in Frankfurt
News 15 Oct. 2021
Claudia Frutos-Peterson and Elisa Botero Ranked Among the Top 100 Female Lawyers in Latin America by Latinvex
News 13 Oct. 2021
Curtis Joins The Appellate Project to Promote Appellate Practice to Diverse Law Students
Client Alert 15 Oct. 2021
Recent change in Dubai’s Arbitration Landscape.
News 20 Sep. 2021
Curtis Successfully Defends the Sultanate of Oman and Oman Aluminium Rolling Company LLC in U.S. Department of Commerce Trade Case
Client Alert 05 Oct. 2021
Proposed Legislative Changes to Federal Estate, Gift and Trust Taxation
Publications 22 Sep. 2021
Client Alert 24 Jun. 2021
U.S. Insight: Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
U.S. Insight: Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
A trade secret is information that has economic value by virtue of not being generally known.
For example, the recipe for Coca Cola is a trade secret that is closely held by the Coca Cola company. Trade secrets are subject to a party’s reasonable efforts to maintain their secrecy. If a party freely discloses information, this information would not be eligible for trade secret protection.
Trade secrets are important because they protect information crucial to a company’s survival and profitability. In other words, trade secrets allow a company to make and sell valuable products that only they know how to make. The accidental or intentional disclosure of a trade secret could cost a company its trade secrets. A company may use a strategic combination of trade secrets and patents to retain an advantage over its competitors even after the patents expire.
Trade secrets last as long as the secret can be kept. Unlike patents, which typically have a shelf life of twenty years, trade secrets last indefinitely. If the secret is leaked or disclosed to an unauthorized party, the trade secret would likely no longer qualify as a secret.
The leaking of a trade secret could potentially lead to the information becoming public or no longer being protected. Depending on how central the secret is to a company’s operations, the disclosure of a trade secret could threaten the viability or existence of a company. For example, if Coca Cola’s recipe for its soft drink were leaked, it could constitute a blow to its ability to make a profit.
Attorney advertising. The material contained on this page is only a general review of the subjects covered and does not constitute legal advice. No legal or business decision should be based on its contents.
Turner P. Smith
Intellectual Property Law
Intellectual Property Litigation
Media, Technology and Entertainment Law
+1 212 696 6000