A Trade secret is something that a company has come up with to help there business to grow and make money for them in the business world like for example ( process for making something or software or a drug). Once a company has their product they will want to keep it a secret. If there where no trade secrets thin companies could loss their business they would not be able to stay in business and then their employees’ would not have jobs, With having Trade Secret Laws companies stay in business and keep their employees’ working, So that their competitors do not get there hands on the trade secrets that a company should do this to keep their information secret by doing the following:
Identify What Needs Protection.
Label Documents That Contain Protected Information.
Monitor Where Information is Stored.
Secure Computers.
Maintain Secrecy With Outside Vendors.
Provide Adequate Security.
Limit Public Access to the Company.
The theft of trade secrets can be done by someone that uses: deception to obtain such information or takes or conceals the information with out authorization. Another form of theft would be if a person receives , buy’s or possesses such information with out authorization. If someone is cought with stolen trade secrets they could get a fine or be put in prison or both.