Commercial secret is defined as the possession of a specific know-who, equipment or important generally unknown information.
A commercial secret must not be disclosed or revealed to the public but does not require registration formalities and its protection is not automatically doomed to extinction after a finite life.
The information which may subject to trade secret protection may be commercial, financial, industrial, technical or scientific in nature. Therefore, it may be production methods, chemical formulas, manufacturing processes, customer lists, business or marketing plan, manufacturing techniques, special recipes, commercial methods or other non published information. This type of information is generally not known in the industry, it provides business value to the company and it requires a reasonable effort to be kept secret.
Although a trade secret offers numerous benefits, once revealed, it loses any kind of protection and thus of value. To avoid such risks, we suggest that these companies proceed with caution by making good use of our strategic advice. This can be protected by confidentiality agreements or appropriate clauses defined in your contracts.
Our professionals can advise you and help you to take the necessary measures to protect these IP assets in Canada and abroad.
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