Trade secret

Trade secret: an intellectual property right that includes formulas, patterns, plans, programs, devices, methods, techniques, and others. Trade secrets are governed by the Trade Secrets (Enforcement, Etc.) Regulations (2018), which was implemented into UK legislation following the end of the transition period. To be defined as a trade secret under the Regulation, it must be (i) a secret, in that is not generally known among, or readily accessible to, persons within the circles that normally deal with the kind of information in question, (ii) have a commercial value by virtue of it being a secret and (iii) has been subject to reasonable steps to keep it secret (section 2 of the Trade Secrets (Enforcement, Etc.) Regulations 2018).