Question

According to the governing bodies of common laws the life of trade secret is

Answer 1

According to the governing bodies of common laws, the life of trade secret is: ▻ 12 years ▻ 17 years ▻ 20 years ▻ As long as it ...

Answer 2

Patents and licenses are available for trade secrets, which are intellectual property (IP) rights that belong to confidential information.

For information to qualify as a trade secret, it must meet the following criteria:

1. Due to its secret nature, it is commercially valuable,

2. It should only be known to a select group of people, and

3. In addition to using confidentiality agreements for business partners and employees, the rightful holder of the information must take reasonable steps to keep it secret.

An unfair practice and a violation of trade secret protection is the acquisition, use, or disclosure of such secret information without permission by others.

Hence, the life of a trade secret is as long as it remains confidential.

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