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Trade secret rights can
be obtained only by developing the information representing the
trade secret and maintaining the secrecy of the information.
The first step in
obtaining trade secrets is to become aware of those things that give
your business a competitive advantage.
Information can be
considered a trade secret if the following three conditions were
met:
1. Information
which is not, as a body or in the precise configuration and assembly
of its components, generally known among or readily accessible to
persons within the circles that normally deal with the kind of
information in question.
2. Information
which has commercial value because it is secret.
3. Information
which has been subject to reasonable steps under the circumstances
by the right holder to keep it secret.
A trade secret gives the
owner of it the following rights:
A.
Prevent others from misusing your trade secret.
B. License,
assign or sell the trade secret.
C. Claim
compensation for damages by any act of misuse of his trade secret.
TRIMARK
can assist clients by providing the following services:
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Trade secret counseling
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Representation in trade secret related transactions including
confidentiality agreements, assignments, and licensing
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Trade secret related mediation and litigation support
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