Trade Secrets and Unfair Competition
A trade secret is any method, process, or information that is important to your business and that is not generally known to the public. A trade secret does not have to be patented, but it must be secret. Perhaps the most famous trade secret is the formula for Coca Cola©. It is not patented, but it is secret. Other examples of trade secrets are manufacturing processes, oil and gas prospect information, and customer lists. Trade secrets are often misappropriated by former or departing employees or partners.