Trade secret
Definition
Confidential business information that provides a competitive advantage and is subject to reasonable efforts to keep it secret. Unlike patents, trade secrets have no registration requirement and can last indefinitely — but only as long as the secret is maintained. The formula for Coca-Cola and the Google search algorithm are famous examples. Trade secrets and patents are often compared: patents give stronger rights but require disclosure; trade secrets keep information hidden but can be lost if independently discovered.
Related terms
Keep going
See trade secret in real patents:
Search PatentBrief →