- No pre-determined expiration date and indefinite life. As long is the information meets the legal definition of a “trade secret”, the information continues to be a trade secret. Just ask the good folks at Coca-Cola how long they expect to own its trade secret for a certain carbonated beverage.
- Zero registration costs.
- No duty to disclose to any government agency.
- No registration required.
- Legal protections exist to resist and prevent disclosure in courts and other government filings.
- Broad - As long as the information meets the legal definition of a "trade secret", virtually anything can be a trade secret.
- Could be expensive to maintain secrecy.
- Requires vigilance to maintain secrecy.
- Might be reverse engineered and lose protection.
- Can be patented by someone else who developed the relevant information by lawful means.
- Once the trade secret is public, it no longer qualifies for trade secret protection and anyone can use it.
- Easy to lose trade secret status (no longer a secret).
- Sometimes difficult to prove the information meets the legal definition of a trade secret.
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