trade secret

noun

: something (such as a formula) which has economic value to a business because it is not generally known or easily discoverable by observation and for which efforts have been made to maintain secrecy

Examples of trade secret in a Sentence

Recent Examples on the Web

The filing also details a legal victory in the trade secrets case against I-Mab Biopharma (IMAB-1.87%), with the jury finding in favor of Inhibrx. —Quartz Bot, Quartz, 14 Nov. 2024

This can range from internal access to trade secrets, communication threads (like Slack), email access, passwords, VPN access and so much more. —Brandon Batchelor, Forbes, 23 Oct. 2024

For example, sometimes the release of industry-altering trade secrets or dangerous environmental toxins are irreparable harms since their financial impact is difficult or impossible to calculate and no amount of dollars can fix the damage. —Michael McCann, Sportico.com, 24 Nov. 2024

This is partly to guarantee production quality, but also to ensure that employees don’t leak trade secrets or prototypes. —Lily Hay Newman Matt Burgess, WIRED, 19 Sep. 2024

Word History

First Known Use

1825, in the meaning defined above

Legal Definition

trade secret

noun

trade se·​cret

: a formula, process, device, or item of information used by a business that has economic value because it is not generally known or easily discovered by observation or examination and for which reasonable efforts to maintain secrecy have been made

Note: Trade secrets are a form of intellectual property. Many states have enacted laws which create an action for damages or injunctive relief against misappropriation of trade secrets by improper means. Information contained in a patent is not protected as a trade secret.