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from Part II - IP Social Justice in Major Intellectual Property Domains
Published online by Cambridge University Press: 04 January 2024
A trade secret is any economically valuable information which provides an actual or potential competitive advantage to the owner of the information because the information is secret.1 Trade secret protection can be an important driver of innovation, inclusion, and empowerment. But legal protection for trade secrets can also undermine those interests if the protection granted is not properly balanced by other interests such as employee mobility and the ability to build on existing information. A distinguishing feature of trade secret IP is that the essential bargain which underlies utilitarian innovation as embodied in patent law – the grant of a monopoly to exploit the patent for a limited time in exchange for making the information public2 – is not present.
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