Proprietary Information

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Proprietary Information

The information, concepts, designs or anything else that sets a business apart from its competitors and that is therefore kept secret. Other examples of proprietary information may include a company's computer systems, employee salaries, and so forth. Proprietary information may always be kept secret and is never subject to public disclosure. For instance, a fried chicken restaurant is never required to reveal the spices used in its recipe. Proprietary information is also called a trade secret.
References in periodicals archive ?
Most states, including Utah, have laws to protect trade secrets through a version of the Uniform Trade Secrets Act.
Second, reevaluate your company's tolerance for bringing trade secrets claims.
Grants whistleblowers who disclose trade secrets to the government immunity from civil and criminal liability in certain situations;
In 2013, after studies (11) showed the importance of trade secrets to the economy, particularly to small and medium-sized enterprises, and the fears of many organizations that asserting claims for misappropriation would result in inadequate remedies and potentially place their trade secrets at risk of public disclosure, the European Commission proposed a Directive to address differences in the trade secret laws of the EU Member States.
A few months ago, President Obama signed the Defense Trade Secrets Act (DTSA) of 2016 into law.
Companies need to adopt a comprehensive plan for the protection of their trade secrets by identifying and maintaining their confidentiality or risk losing it.
The rest of the world's various national/jurisdiction recognition and handling of SDS trade secrets is a different ball of wax.
Threats to trade secrets can stem not only from outside the business but may also be jeopardised from within the company.
In practice trade secrets have been gaining importance though.
In the appropriate situation, trade secrets can be quite valuable for protecting an organization's industrial processes, internal know-how and knowledge in any business.
So it is important when looking to enforce rights to trade secrets to show the steps that have been taken to preserve confidentiality.
provision punishes those who misappropriate trade secrets with the