Almost any secret that gives a company a competitive edge can be a trade secret. The difficulty with protecting trade secrets is that they must remain a secret to receive protection. However, if your secret is revealed, you can likely recover monetary damages from the person who leaked your secret. One of the most important business decisions you must make is whether to keep a formula or recipe as a trade secret or disclose that information in an application for a different form of IP protection, such as a patent. Think of the formula for Coca-Cola®. If you find yourself unsure, even slightly, about what avenue of IP to pursue, please reach out to us and we would be happy to guide you to the form of IP that would be most beneficial for your business without disclosing your secrets or ideas.