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 ?
The trump card that OSHA gives itself is that you must disclose the trade secret or any other SDS information to the Assistant Secretary, but "where there is a trade secret claim, such claim shall be made no later than at the time the information is provided to the Assistant Secretary so that suitable determinations of the trade secret status can be made and the necessary protections can be implemented.
1020 allows an employer to delete from a medical record "requested by a health professional, employee, or designated representative any trade secret data which discloses manufacturing processes, or discloses the percentage of a chemical substance in mixture, as long as the health professional, employee, or designated representative is notified that information has been deleted.
65) There may also be reasons why an MNC will choose trade secret protection for its proprietary know-how even if the know-how qualifies for patent protection.
72) Under China's present legal regime, the MNC has no mechanism under Chinese law that conclusively establishes that the Chinese government recognizes that the MNC is the owner of a trade secret before Chinese courts, administrative, or other enforcement authorities.
Businesses, irrespective of their size, value trade secrets as much as patents and other forms of intellectual property right and use confidentiality as a business competitiveness and research innovation management tool.
Trade secrets have an important role in protecting the exchange of knowledge between businesses and research institutions within and across the borders of the internal market in the context of research and development and innovation.
In short, if cost is a significant factor, trade secret protection may be preferable.
To successfully make a trade secret misappropriation claim, the trade secret holder must prove that the invention was wrongfully acquired by another.
Trade secrets are commonly defined as information that derives independent economic value from not being generally known to competitors, that cannot be readily ascertained by a competitor using proper means, and that is the subject of reasonable efforts to maintain its secrecy.
c) Criminal remedies, whether or not based upon misappropriation of a trade secret.
Similar to the UTSA, the Economic Espionage Act (EEA) defines trade secret broadly, with only minor differences.