Legal Dictionary of Pakistan

trade secret

1. A formula, process, device, or other business information that is kept confidential to maintain an advantage over competitors; information - including a formula, pattern, compilation, program, device, method, technique, or process - that (1) derives independent economic value, actual or potential, from not being generally known or readily ascertainable by others who can obtain economic value from its disclosure or use, and (2) is the subject of reasonable efforts, under the circumstances, to maintain its secrecy. 0 This definition states the majority view, which is found in the Uniform Trade Secrets Act. "The concept of protecting trade secrets is related to the principles of trademark and patent law. The scope of trade secret protection, however, goes well beyond that of patent law. Unlike patent law, protection under trade secret law is not tied to the information's novelty; rather, the essence of a trade secret is its relative secrecy. Additionally, unlike patent law, trade secret law draws less from property principles, and more from the equitable principles surrounding confidential relationships." Mark A. Rothstein et al., Employment Lain § 8.18, at 516 (1994). "The difficulty with defining