MANAGEMENT

Detailed explanation-1: -In the United States, trade secrets are defined and protected by the Economic Espionage Act of 1996 (outlined in Title 18, Part I, Chapter 90 of the U.S. Code) and also fall under state jurisdiction. As a result of a 1974 ruling, each state may adopt its own trade secret rules.

Detailed explanation-2: -Unlike other forms of intellectual property (IP), trade secrets are not registered with any government or regulatory body. The trade secret right is automatic, as long as the criteria for protection have been fulfilled.

Detailed explanation-3: -The most common and most effective way to protect trade secrets is through use of nondisclosure agreements (NDAs). Courts have repeatedly reiterated that the use of nondisclosure agreements is the most important way to maintain the secrecy of confidential information.