trade secret

noun

|Updated on: 14 Jun 2018

Definition of trade secret

: something (such as a formula) which has economic value to a business because it is not generally known or easily discoverable by observation and for which efforts have been made to maintain secrecy

See trade secret defined for English-language learners

Recent Examples of trade secret from the Web

With these and other examples in mind, the 76ers could have argued that Colangelo misappropriated trade secrets.

— michael mccann, SI.com, "Could Bryan Colangelo Still Face Legal Consequences After Parting Ways With 76ers?," 7 June 2018
Coming from the oil and gas industry, where business was territorial and trade secrets closely guarded, Brosofsky says he has been blown away by the support of other cider makers as well as the town and local businesses.

— ellen albanese, BostonGlobe.com, "Where better to enjoy a local craft cider than the Cape?," 6 June 2018
Such algorithms must be open to scrutiny, not protected as trade secrets.

— The Economist, "Does China’s digital police state have echoes in the West?," 31 May 2018
Less than a year later, Alphabet retaliated, filing a trade secrets lawsuit against Uber.

— Fortune, "Who’s Winning the Self-Driving Car Race?," 31 May 2018
One of the factors used to assess a categorization of trade secret in Ohio is the economic value, real or potential, that the information in question affords.

— mark naymik, cleveland.com, "Read Cleveland Amazon document released by planning agency: Mark Naymik," 11 May 2018
Though there’s no standard protocol, generally an audit involves an outside entity coming in to review how a company develops its secret sauce—without compromising that company’s trade secrets.

— jessi hempel, WIRED, "Want to Prove Your Business Is Fair? Audit Your Algorithm," 9 May 2018
Liu previously worked for the engineering firm as an engineer and had access to proprietary and trade secret data.

— jose r. gonzalez, Houston Chronicle, "Houston man indicted for 'vast criminal conspiracy' to aid China-owned companies," 27 Apr. 2018
No one questions that legitimate trade secrets can remain confidential.

— john gallagher, Detroit Free Press, "Detroit still won't reveal public subsidies offered in Amazon bid," 24 Apr. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'trade secret.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of trade secret

1825

in the meaning defined above

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TRADE SECRET Defined for English Language Learners

trade secret

noun

Definition of trade secret for English Language Learners

: something (such as a special way of doing or making something) that is known only by the company that uses it and is protected from competitors

Law Dictionary

trade secret

noun trade se·cret

legal Definition of trade secret

: a formula, process, device, or item of information used by a business that has economic value because it is not generally known or easily discovered by observation or examination and for which reasonable efforts to maintain secrecy have been made

Note: Trade secrets are a form of intellectual property. Many states have enacted laws which create an action for damages or injunctive relief against misappropriation of trade secrets by improper means. Information contained in a patent is not protected as a trade secret.