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9.11.11: Trade Secret Protection
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Abstract
A principal-indeed the principal-objective of many license agreements is the protection of trade secrets. The point of the license is to retain ownership of the secret while commercially exploiting it and to build a fence (sometimes a higher and bigger fence than statutory protections, even if the same are available, can supply)[1] around the property by extorting promises from the end user. A trade secret is no longer legally protected if the owner does not take pains to maintain it, as best he can, in confidence. And, the license agreement is the vehicle to bind the user into cooperating to preserve the secret, or as much secrecy as possible. Indeed the licensor maintains ownership rights by maintaining the status of a trade secret as a res (a thing that is capable of being owned). Although trade secret protection is often one of the more affordable endeavors in the realm...
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