Trade Secret (Noun)
Meaning
A secret (method or device or formula) that gives a manufacturer an advantage over the competition.
Classification
Nouns denoting communicative processes and contents.
Examples
- The company protected its trade secret for the new soft drink formula by only allowing a select few employees to know the exact recipe.
- Coca-Cola's formula is one of the most famous trade secrets in the world, with the exact recipe remaining unknown to the public.
- The tech firm was sued by a former employee who claimed they had stolen his trade secret for a new type of battery.
- To maintain a competitive edge, the food manufacturer kept its trade secret for the crispy chicken coating a closely guarded secret.
- The court ruled that the stolen trade secret for the 3D printing technology had caused significant financial damage to the original company.