Trade secret agreements

What is a trade secret agreement?

Usually a trade secret is not a stand-alone agreement or contract and often times it’s a provision included as part of a business or employment contract. A trade secret is valuable and sensitive information that gives a business a competitive edge over other businesses. This information can be a formula, program, device, pattern, method, technique, or process.

A trade secret is information is not known to the public, the information is economically beneficial to the holder, and the information holder makes a reasonable efforts to maintain its secrecy.

Do you need an attorney to help review a trade secret agreement?

An attorney can explain the issues related to trade secrets and how to protect yourself in the contract. Furthermore, if you believe that someone is using your trade secret without your permission, you should contact an intellectual property attorney and your attorney can determine whether you have a valid claim, for which you may be entitled to money damages or an injunction to stop the use of your trade secret.

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