Many small business owners and startups don’t realize they have trade secrets to protect. This is why we are going to talk about Trade Secrets and how to protect them. I hope that by the end of the episode, you realize you already have or will have TS and will take steps to start protecting them.

Here is the official definition:*

A trade secret can be a formula (like a recipe), pattern, physical device, idea, process, or compilation of information that satisfies 2 things:

1- provides the owner of the information with a competitive advantage in the marketplace, and

2- is treated in a way that can reasonably be expected to prevent the public or competitors from learning about it, absent improper acquisition, or theft.

Basically, it is something that gives you a competitive advantage because it is secret. So you need to recognize it and protect it accordingly.

#IP #Trade Secrets #Protection