trade secret
noun
: something (such as a formula) which has economic value to a business because it is not generally known or easily discoverable by observation and for which efforts have been made to maintain secrecy
Example Sentences
Recent Examples on the Web The soda's 23-flavor recipe, which has been around since 1885, is a trade secret, rumored to be locked up in a vault. 
Marie Lodi, Allure, 15 July 2022 While Phoenix Tailings has patented the designs of some of its equipment, its liquid salt solution is a trade secret, like the formula for Coca-Cola. Globe Staff, BostonGlobe.com, 12 May 2022 An Alabama federal judge denied AAI’s trade secret claims before the trial. Howard Koplowitz | Hkoplowitz@al.com, al, 14 Feb. 2022 Waymo, Google's self-driving company, sued Uber in February 2017 alleging trade secret and intellectual property theft, and Levandowski was fired from Uber that May after failing to cooperate with the company on the case. Matt Mcfarland, CNN, 7 Dec. 2020 Motorola won a civil judgment in a trade secret theft and copyright infringement case against Hytera in February 2020, and was awarded $764.6 million. David Smagalla, WSJ, 7 Feb. 2022 Few lawyers dispute the idea that a legitimate trade secret should be protected by law. Los Angeles Times, 28 Jan. 2022 Those investigations are part of the China Initiative, an effort launched by the Justice Department to crack down on Chinese digital espionage and trade secret theft. Eric Tucker, ajc, 14 Jan. 2022 The public access counselor initially found that the hospitals had failed to show that the spending amounted to a trade secret. Tony Cook, The Indianapolis Star, 8 Jan. 2022 See More
Marie Lodi, Allure, 15 July 2022 While Phoenix Tailings has patented the designs of some of its equipment, its liquid salt solution is a trade secret, like the formula for Coca-Cola. Globe Staff, BostonGlobe.com, 12 May 2022 An Alabama federal judge denied AAI’s trade secret claims before the trial. Howard Koplowitz | Hkoplowitz@al.com, al, 14 Feb. 2022 Waymo, Google's self-driving company, sued Uber in February 2017 alleging trade secret and intellectual property theft, and Levandowski was fired from Uber that May after failing to cooperate with the company on the case. Matt Mcfarland, CNN, 7 Dec. 2020 Motorola won a civil judgment in a trade secret theft and copyright infringement case against Hytera in February 2020, and was awarded $764.6 million. David Smagalla, WSJ, 7 Feb. 2022 Few lawyers dispute the idea that a legitimate trade secret should be protected by law. Los Angeles Times, 28 Jan. 2022 Those investigations are part of the China Initiative, an effort launched by the Justice Department to crack down on Chinese digital espionage and trade secret theft. Eric Tucker, ajc, 14 Jan. 2022 The public access counselor initially found that the hospitals had failed to show that the spending amounted to a trade secret. Tony Cook, The Indianapolis Star, 8 Jan. 2022 See More Word History
First Known Use
1825, in the meaning defined above
Legal Definition
trade secret
noun
trade se·cret
: a formula, process, device, or item of information used by a business that has economic value because it is not generally known or easily discovered by observation or examination and for which reasonable efforts to maintain secrecy have been made
Note: Trade secrets are a form of intellectual property. Many states have enacted laws which create an action for damages or injunctive relief against misappropriation of trade secrets by improper means. Information contained in a patent is not protected as a trade secret.