3 other types of IP:
1. Copyrights 2. Trademarks 3. Trade Secrets
Trade Secrets-as it is usually understood means a secret formula or process not patented, known only to certain individuals who use it in manufacturing some article of trade having commercial value. Itis rarely, if ever, used to denote the mere privacy with which ordinary commercial business is carried on.
Property Right: protection against unauthorized disclosure and if it is disclosed, can receive monetary compensation.
This is the law of torts.
One is liable when he or she discloses a trade secret if:
A. He discovered it by improper means B. The disclosure or use is in breach of confidence C. He learned of it from a third person with knowledge that it was secret, and the 3rd party was breaching his duty D. He noticed it was a secret and the disclosure was a mistake