your one-stop resource for everything related to starting a small business in colorado.
A trade secret is a property right recognized by the government with regard to confidential information. A trade secret may be kept forever as long as the information is kept in confidence and is not available through a public source. A trade secret may apply to an idea, its description, or any product or service that holds value as a result of it being held in confidence and thereby creating an advantage over those who do not have access to the secret. A trade secret represents a limited form of protection in that anyone is free to independently discover the secret or to determine the secret through analysis on any product in which the secret may be obtained.
A trade secret is not registered with the government or with any entity. It must be kept secret by the owner. It requires the existence of an in-house trade secret program. The program must include guidelines on who may have access to the information and controls to prevent unauthorized disclosure. The proper maintenance of a trade secret program may be expensive. A trade secret lasts so long as you keep it a secret and misappropriation of a trade secret may be enforced in either state or federal court.
Colorado Business Development Foundation
info@coloradobdf.org
www.coloradobdf.org
Small Business Navigator Hotline: 303-592-5920
© 2022 Colorado Business Development Foundation. All rights reserved.
All information within this resource book and website is for informational purposes only and is not intended to be legal, tax, business or other professional advice. It is current to the best of our knowledge as of the date of publication. You should contact an appropriate professional to discuss any issue particular to you or your business and only rely upon your own research into those issues. Use of and access to this resource book or the associated website does not create any relationship between the publisher, authors, and the reader, or any other individual or entity. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAWS, THE MATERIALS AND INFORMATION IN THIS RESOURCE BOOK AND WEBSITE ARE DISTRIBUTED ON AN "AS IS" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE.