Definition: Trade secrets are information that companies keep secret to give them an advantage over their competitors. The formula for Coca-Cola is the most famous trade secret.
Trade secrets are not protected by intellectual property law the same way that trademarks or patents are. Protection for trade secrets is done by non-disclosure, the information must be kept confidential.
Companies often use non-disclosure agreements (NDA) to keep their trade secrets safe. Employees often have to sign an NDA.
All About Trade Secrets
Also Known As: Confidential Information
