WHITE PAPER | 2023 Year-End Review: Key Trade Secret Developments | Smith Anderson
A trade secret is any information used in one’s business that derives independent economic value from not being generally known. Trade secrets, unlike patents, are protected indefinitely for as long as they remain a secret. Due in large part to enactment of the Defend Trade Secrets Act in May 2016 which made trade secret misappropriation a federal cause of action, trade secrets have become an increasingly attractive form of intellectual property for businesses to protect their innovations.
This White Paper summarizes and explains noteworthy decisions in trade secret law over the past year. Each of these decisions has meaningful implications for trade secret owners, defendants, and practitioners alike.
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