Editing Trade secret (section)

== Definition ==

The precise definition of a trade secret varies by [[jurisdiction]], as do the types of information eligible trade secret protection. However, in general, trade secrets are confidential information that is:

* not generally known among or accessible to individuals within the relevant [[business]] sector;<ref name=":1">{{Cite web |title=WIPO Guide to Trade Secrets and Innovation - Part III: Basics of trade secret protection |url=https://www.wipo.int/web-publications/wipo-guide-to-trade-secrets-and-innovation/en/part-iii-basics-of-trade-secret-protection.html |access-date=2024-11-10 |website=WIPO Guide to Trade Secrets and Innovation |language=en |quote="In general, trade secrets are confidential information, which is: not generally known among, or accessible to, the persons in the relevant business sector (“secrecy”)[,] commercially valuable because it is secret, and subject to reasonable steps taken by the rightful holder of the information to keep it secret, such as the use of confidentiality agreements for business partners."}}</ref>
* commercially valuable because it is secret;<ref name=":1" /> and
* subject to reasonable steps taken by the rightful holder of the information to keep it secret.<ref name=":1" />
[[File:15-09-26-RalfR-WLC-0098 - Coca-Cola glass bottle (Germany).jpg|thumb|The Coca-Cola formula has been a trade secret since 1891.]]
All three elements are required. If any element ceases to exist, then the trade secret will also cease to exist.<ref name=":0" />

Trade secret protection covers confidential information, which can include technical and scientific data, business and commercial information, and financial records.<ref name=":1" /> Even “negative” information, like failed experiments, can be valuable by helping companies avoid repeating costly mistakes.<ref name=":1" />

In international law, while "trade secrets" and "confidential information" are often used interchangeably, trade secrets are technically a subset of confidential information.<ref name=":10">{{Cite web |title=WIPO Guide to Trade Secrets and Innovation - Part IV: Trade secret management |url=https://www.wipo.int/web-publications/wipo-guide-to-trade-secrets-and-innovation/en/part-iv-trade-secret-management.html |access-date=2024-12-14 |website=WIPO Guide to Trade Secrets and Innovation |language=en |quote="It is important to begin by clarifying terminology. Although “trade secrets” and “confidential information” are often used interchangeably in business, strictly speaking the former is a subset of the latter. In general, “confidential information” refers to information that is not publicly known and is kept confidential by its holder. Thus, it extends to information that is personal to an individual. Confidential information will qualify as a trade secret only if it meets the requirements under the applicable national law of each country (many of which may be based on Article 39 of the TRIPS Agreement). In general, a trade secret refers to any confidential information which provides an economic benefit to the trade secret holder because that information is generally unknown to competitors, and the holder made efforts to keep the information secret. Trade secrets can be found in the most unexpected of places in your business."}}</ref> To qualify as a trade secret, confidential information must meet the specific requirements set by a country's national laws, which are often influenced by Article 39 of the [[TRIPS Agreement]].<ref name=":10" /><ref>{{Cite web |title=WTO {{!}} intellectual property (TRIPS) - agreement text - standards - Section 7: protection of undisclosed information |url=https://www.wto.org/english/docs_e/legal_e/27-trips_04d_e.htm#7 |access-date=2024-12-14 |website=www.wto.org}}</ref>