Fiducia TogetherTrade secrets
Commercially valuable information kept secret. Protected only while it stays secret.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
What it means
A trade secret is information that is secret, has commercial value because it is secret, and has been subject to reasonable steps to keep it secret.
Why it matters
It is an alternative to patenting: a patent publishes the invention in exchange for twenty years of protection, a trade secret lasts indefinitely and ends the moment it leaks.
What it looks like in practice
The "reasonable steps" requirement is doing work — marking, restricting, contracting. A business claiming a trade secret it took no steps to protect will struggle.
What to watch out for
Reverse engineering is generally lawful. If your advantage can be worked out from the product, a trade secret is the wrong protection.
Where to get proper advice
An IP solicitor on whether to patent or keep secret. It is a strategic choice and it is usually irreversible.
Where to read more
Last reviewed 2026-08-28 by Fiducia Together · Next review due 2027-08-28
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.