The value of the information to the plaintiff and to the plaintiff’s competitors.The ease or difficulty with which the information could be properly acquired or duplicated by others.The extent of measures taken by the plaintiff to guard the secrecy of information.The extent to which it is known by employees and others involved in plaintiff’s business.The extent to which the information is known outside the plaintiff’s business.The The first four are particularly relevant to cybersecurity. Illinois Courts have identified 6 common law evidentiary factors relevant in evaluating whether information qualifies for trade secret protection. Generally, there’s no federal private right of action unless the trade secret was discovered through espionage, hacking, or through actual damage to a computer system. Trade secrets are mainly protected by state law. This is different than patents, trademarks, or copyrights, where disclosure is necessary for protection. Trade secrets are different from other forms of intellectual property in that protection lasts as long as information remains secret. Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy or confidentiality.Ī trade secret plaintiff under the ITSA must show that information was sufficiently secret to give the plaintiff a competitive advantage and show that the plaintiff took affirmative measures to prevent others from acquiring or using the information.Is sufficiently secret to derive economic value, actual or potential, from not being generally known to other persons who can obtain economic value from its disclosure or use and.The Illinois Trade Secrets Act (ITSA) defines a trade secret as “information, including but not limited to, technical or non-technical data, a formula, pattern, compilation, program, device, method, technique, drawing process, financial data, or list of actual or potential customers or suppliers, that: Though these are famous examples, there are much more common trade secrets associated with businesses, including lists, databases, customer information, manufacturing processing, and financial data. Another good example of a trademark secret is KFC’s eleven herbs and spices recipe. A good example of a trade secret is the Coca-Cola formula, which only two living executives know. Most of the time, this information is of substantial economic value. Trade secrets are important because money, resources, and time are spent developing information or technology.
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