What is a trade secret Ohio?

Under this statute, information that derives actual or potential “independent economic value” from not being known or readily ascertainable by others and that is subject to reasonable efforts to maintain its secrecy is considered to be a trade secret that is protected from misuse.

Has Ohio adopted the Uniform Trade Secrets Act?

Ohio’s Uniform Trade Secrets Act, RC 1333.61 et seq., was enacted to prevent improper misappropriation of trade secrets by employees, and to prevent other employers from using trade secrets which they know or have reason to know that the trade secrets were obtained through improper means.

What defines trade secrets?

Trade secrets are intellectual property (IP) rights on confidential information which may be sold or licensed.

Are trade secrets a state law?

Until recently, civil trade secret cases were governed by state law, not federal law. All U.S. states except Massachusetts and New York have adopted the Uniform Trade Secrets Act, an act developed to enable consistency among the various states.

What are examples of trade secrets?

Examples of trade secrets include:

  • KFC’s secret blend of 11 herbs and spices.
  • Coca-Cola’s recipe for their signature drink.
  • Google’s search algorithm.
  • McDonald’s Big Mac “special sauce.”
  • Secret client lists at any company.

What Cannot be a trade secret?

Anything that is easily and completely disclosed by the mere inspection of a product put on the market cannot be a trade secret.

Which is an example of something that can only be protected by a trade secret?

Other examples of information that may be protected by trade secrets include financial information, formulas and recipes and source codes.

What are some examples of trade secrets?

What 3 elements are required to have a trade secret?

Below we discuss the three elements of a trade secret, listed above.

  • (1) The information is secret.
  • (2) The information confers a competitive advantage.
  • (3) The information is subject to reasonable efforts to keep it secret.

Which three elements are required to have a trade secret?

What information can be protected as a trade secret?

What kind of information is protected by trade secrets? In general, any confidential business information which provides an enterprise a competitive edge and is unknown to others may be protected as a trade secret.