Trade Secrets
Trade secrets are often the forgotten IP right. However, they offer a powerful and cost-effective way to protect valuable proprietary information for as long as that information remains confidential.
In both the UK and EU, trade secrets can be used to protect any information that is:
- Secret.
- Likely to have commercial value.
- Subject to reasonable steps to keep it confidential.
In practical terms, this means any information your competitors would be willing to pay for - whether that’s a formula, design, manufacturing process, business method, database, or internal know-how.
Unlike patents, trade marks, or designs, trade secrets do not require registration. However, to maintain a trade secret, the owner must take active steps to ensure the information remains confidential. That means putting the right legal, administrative, and technical measures in place, as well as educating employees on their responsibilities.
Trade secrets offer several advantages:
- Longevity: Protection lasts indefinitely, as long as secrecy is maintained.
- Speed: Protection is immediate.
- Confidentiality: There is no public disclosure.
- Flexibility: Useful in licensing or joint ventures.
- Cost-efficiency: No registration or renewal fees.
That said, trade secrets are not always the best option. In many cases, patents or other registered rights will provide more robust and enforceable protection. That’s why it’s important to take professional advice.
If you’d like to discuss how to make better use of trade secrets within your business, or want to find out more about SafeGuard or ConvertiP, please get in touch with our team.
Key Areas of Expertise
Identifying your trade secrets
We help you audit your business to identify which assets meet the legal definition of a trade secret and could benefit from protection. This might include processes, formulas, internal documents, or confidential business methods.
We help you audit your business to identify which assets meet the legal definition of a trade secret and could benefit from protection. This might include processes, formulas, internal documents, or confidential business methods.
Assessing protection & risk
We evaluate the current level of protection around your trade secrets and identify any gaps. This helps reduce the risk of accidental disclosure or loss of rights through insufficient safeguards.
We evaluate the current level of protection around your trade secrets and identify any gaps. This helps reduce the risk of accidental disclosure or loss of rights through insufficient safeguards.
Creating your compliance framework
We help put the legal and practical safeguards in place to meet the requirement for "reasonable steps". This may include internal protocols, NDAs, employment contracts, training, and access restrictions.
We help put the legal and practical safeguards in place to meet the requirement for "reasonable steps". This may include internal protocols, NDAs, employment contracts, training, and access restrictions.
SafeGuard: trade secrets audit & protection
SafeGuard is our structured tool for minimising trade secret risk. It gives you a practical and straightforward way to:
- Build a strategy for identifying and protecting trade secrets.
- Assess your existing risk exposure.
- Put in place the legal and compliance framework required.
SafeGuard is our structured tool for minimising trade secret risk. It gives you a practical and straightforward way to:
- Build a strategy for identifying and protecting trade secrets.
- Assess your existing risk exposure.
- Put in place the legal and compliance framework required.
ConvertiP: converting commercial benefits
ConvertiP helps you decide whether to protect a commercially valuable invention as a trade secret or convert it into a patent. It’s a quick and cost-effective audit that balances legal protection against commercial value.
ConvertiP helps you decide whether to protect a commercially valuable invention as a trade secret or convert it into a patent. It’s a quick and cost-effective audit that balances legal protection against commercial value.
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