What is the main characteristic of trade secrets?

The main characteristic of trade secrets is that they are not required to be publicly disclosed, which aligns with the notion of keeping them confidential from public knowledge. A trade secret is any practice, design, formula, process, or compilation of information that offers a business advantage over competitors who do not know or use it. This confidentiality is integral to the nature of trade secrets, as their value is derived from being kept secret.

In contrast, requiring public disclosure for protection or registration with a Patent Office involves processes that apply to patents or trademarks but not to trade secrets. Ownership being given to the state is also inconsistent with trade secret laws, as trade secrets are owned by the company or individual that creates them. The essence of a trade secret lies in its ability to provide competitive advantage through secrecy without the need for filing or formal recognition.