A trade secret is a design, information, pattern, or other workflow that a company has developed to make their business work properly. As these processes are generally proprietary and can give a company an edge against their competitors, they make an effort to keep them a secret.
A trade secret is one form of intellectual property. Often, when companies have trade secrets, they make their employees sign an NDA (non-disclosure agreement) and a non-compete clause. This agreement and clause state the employee will not divulge proprietary information to anyone outside of the company. In some cases, they even prevent an employee from working at a similar business once they leave the company.
Business terms
