1. What is a Trade Secret?

A trade secret is confidential information which gives the owner a competitive advantage in the marketplace over others who do not know it. The information may be a customer list, a secret formula, know-how, sources of supply, a computer program, or data base. A patent application is confidential until the patent application is published.

A trade secret exists only so long as the information is kept secret and is not in the public domain. Once a trade secret is lost, it cannot be regained.

2. How can I get my trade secret registered?

Trade secrets are not registered in India.

3. What is the misappropriation of a trade secret?

A trade secret is misappropriated if confidential information is knowingly and improperly taken and then disclosed or used to the owner's disadvantage. It is not misappropriation if the trade secret is independently developed by any employee.

4. How can I stop the misappropriation of a trade secret?

The misappropriation can be curbed only by properly identifying the trade secret, assessing its value and getting a well structured non-discloser agreement signed by those dealing with confidential information.