Trade Secret

It is a process,method,plan,idea,formula or other information which provides a business with a competitive advantage over its competitors.Trade secrets have value and are protected by court-ordered injunction.The owner of the trade can seek damages against the person who tries to reveal the secret.Also, when trade secrets are involved in a lawsuit, a “protective order” may be requested from the judge to prohibit revelation of a trade secret or a sealing of the record in the case where references to the trade secret are made.