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Reno-Sparks, NV
2941 Sage Ridge Drive
Nevada, 89509
Tel.
775-827-8767
Fax
775-827-0862
Email
Chicago, IL
53 West Jackson Blvd
Suite 915
Illinois 60604
Email
Naperville, IL
608 South Washington Street
Suite 210
Illinois 60540
Email
Tel.
630-789-9767
Fax
630-789-9762 |
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Long & Chybik - Patent & Intellectual Property Attorneys
Trade Secrets Overview:
A trade secret may
consist of any formula, pattern, device or compilation of information
which is used in one's business, and which gives him an opportunity to
obtain an advantage over competitors who do not know or use it. It
may be a formula for a chemical compound, a process of manufacturing,
treating or preserving material, a pattern for a device, or a list of
customers.
Unlike other forms of intellectual property, which grant exclusivity in
return for the public disclosure of the materials, trade secrets are
preserved through secrecy. Further, they are not required to
be new, novel or unique in any way. A trade secret does not have to
be complicated, and in fact, it can be very simple in nature.
There are neither registration nor licensing requirements nor are there
any government fees involved in establishing a trade secret.
Instead, so long as materials meet the requirements for what is identified
as a trade secret, the law will enforce them and provide protective
measures for their defense.
Trade secrets are traditionally protected under state law. In
general, the States have adopted, in some form, the Uniform Trade Secrets
Act (USTA). This is a uniform law which was cooperatively developed
in order to create a degree of uniformity between the states concerning
the treatment and protection of trade secrets. This Uniform Act
defines a trade secret and infringement in similar but more extensive
terms than the Restatement of Torts. Largely, the individual States,
in their own adoptions, invariably have different definitions of
essentially the same factors. Additionally, some States enacted
statutes not based upon the USTA, while a few rely exclusively on common
law.
 Federal
law recognizes trade secrets and provides for their enforcement with stiff
civil and criminal penalties.
These strict new federal penalties further
underscore the importance of developing an effective and comprehensive
corporate compliance program in order to avoid problems and minimize those
instances in which unavoidable problems arise. A failure to develop
such a program could have serious legal consequences which might arise
with each new hire or association.
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