What is a trade secret, and how is it different from a patent or copyright?
A trade secret is any information that allows you to make money because it is not generally known. A trade secret could be a formula, computer program, process, method, device, technique, pricing information, customer lists or other non-public information. If the economic value of a piece of information relies on it being kept private, it could be a trade secret. One of the most famous examples of a trade secret is the formula for Coca-Cola. The formula, also referred to by the code name “Merchandise 7X,” is known to only a few people and kept in the vault of a bank in Atlanta, Georgia. The individuals who know the secret formula have signed non-disclosure agreements, and it is rumored that they are not allowed to travel together. In the past, you could not buy Coca-Cola in India because Indian law required that trade-secret information be disclosed. In 1991, India changed its laws regarding trademarks, and Coca-Cola can now be sold in that country. Trade secrets are very different fro
