Trade Secrets

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  • Can be better than patent because trade secrets will never expire

  • Classis example is Coca Cola formula

  • There must be high security level for trade secrets

  • Companies must force employees to sign agreements, information is provided on need-to-know basis

  • Make revealing a trade secret grounds for immediate termination

  • One should inform their employees of their duty to protect the secret

  • Secrecy has to start at beginning or courts are merciless

  • Make sure all contractors have signed confidentiality contract

  • Once trade secret is out it is no longer a trade secret

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