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Protecting your trade secrets

Your business secrets may be among the most valuable assets you own. From product designs, formulas and recipes to client lists, businesses are often built on the strength of their secret and other closely-held information. Fortunately, the law provides protection for your secrets should anyone release the information to competitors or the public. However, to qualify for protection under the Uniform Trade Secrets Act, secret information must meet two important criteria.

The first criteria is that the secret must have value. If the secret does not offer value, then there is no point in keeping it secret or in protecting it. Fortunately, this is an easy threshold to meet. In most businesses, the information in question is kept secret because of its value. If it is worth it to you that the information be secret, then a court is likely to find that it has value.

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