Trade secret refers to a formula, method, plan, process or any other information that might be considered exclusive to a certain manufacturer. This information is usually what gives that manufacturer an advantage over competitors. This is the reason why trade secrets have great value.
Trade secrets are usually protected by a court order, which prevents the employee, a former employee or anyone else who has possession of or knows about it from disclosing it. Under such court orders, the employer has the right to seek compensation from a person or a party that has disclosed the information.