Binary Scam Watch Monitor Explain Trade Secrets

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Presentation Description

A trade secret is a formula, pattern, physical device, idea, process, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

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Slide1:

Trade Secrets Binary Scam Watch Monitor

What is a trade secret?:

A trade secret is a formula, pattern, physical device, idea, process, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers. What is a trade secret?

Examples of Potential Trade Secrets:

a formula for a sports drink survey methods used by professional pollsters recipes a new invention for which a patent application has not yet been filed marketing strategies manufacturing techniques computer algorithms Examples of Potential Trade Secrets

What is required to maintain a trade secret?:

Secrecy What is required to maintain a trade secret?

Ways to Protect Trade Secrets:

Restrict access to the information (lock it away in a secure place, such as a bank vault) Limit the number of people who know the information Have the people who know the trade secret agree in writing not to disclose the information (sign non-disclosure agreements) Have anyone that comes in contact with the trade secret, directly or indirectly, sign non-disclosure agreements Mark any written material pertaining to the trade secret as proprietary Ways to Protect Trade Secrets

Advantages of Trade Secret Protection:

Unlimited duration -trade secrets could potentially last longer than patents (20 years) and copyrights Your protection is theoretically worldwide No application required No registration costs No public disclosure or registration with government agency Effective immediately Advantages of Trade Secret Protection

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