Are there trade secrets?

[Starmix]

The answer is, yes, there are trade secrets. They exist and are a form of intellectual property that protects confidential information that gives a business a competitive edge. Unlike patents, copyrights, and trademarks, trade secrets do not require registration to be fully effective.

We have to know that trade secrets also have formulas, practices, designs, instruments, or a compilation that has inherent economic value because it is not generally known to others, and efforts are made to maintain its secrecy. Common examples include the Coca-Cola formula, Google’s search algorithm. Trade secrets can also include manufacturing processes, customer lists, and marketing strategies.

These secrets will last as long as the secret is kept confidential. Unless, protect trade secrets to make sure that no one can copy them, especially the competitors, and should there be a spy paid by the competitor.

 

[Augusta]

Yes, They are used as a means to create an enterprise that offers an advantage over competitors or provides value to customers.

 

[Starmix]

Indeed, there are trade secrets, and they are confidential, and workers are prohibited from doing wrong by copying and spreading to the competitors the trade secret of the business owner .

 

[Kross]

Every business person, every seller has that subtle tactic that they is to complete sales which they keep to themselves alone. That's trade secrets.

 

[eLdavis]

Yes every trader often has his own methods or tricks they use which can be considered as a trade secret.

 

[Starmix]

There are trade secrets, and it is normal, and many big-time business owners are doing it to boost production and protect the interests of the businesses against business rivals.

 

[Augusta]

They are intellectual property (IP) rights on confidential information which may be sold or licensed.

 

[Starmix]

Trade secrets cannot be disposed and whoever is caught will be dismissed from work and answer the violation committed in the court of law.