Sentences with phrase «maintained as a trade secret»

An important question often faced when a business has developed something new is whether to file a patent for the innovation or whether it should be maintained as a trade secret.

Not exact matches

Under the Uniform Trade Secrets Act, adopted in most states, information counts as a trade secret if it meets three criteria: The information must have independent economic value to people outside the company, the information must be generally unknown and unlikely to be discovered by lawful means, and the owner of the secret must make efforts to maintain the seTrade Secrets Act, adopted in most states, information counts as a trade secret if it meets three criteria: The information must have independent economic value to people outside the company, the information must be generally unknown and unlikely to be discovered by lawful means, and the owner of the secret must make efforts to maintain the setrade secret if it meets three criteria: The information must have independent economic value to people outside the company, the information must be generally unknown and unlikely to be discovered by lawful means, and the owner of the secret must make efforts to maintain the secret.

A seven - year renovation has turned the fort into an elegant hideaway, while maintaining the building's original framework — secret passages, lookout posts, even a bona - fide dungeon, which has traded manacles for massages as the resort's spa.

The Act defines a «trade secret» as information that «(1) derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by the public or any other person who can obtain economic value from its disclosure or use, and (2) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.»