Charles S. Marion, a partner in the Commercial Litigation and Intellectual Property Litigation practice groups of Pepper Hamilton, was quoted extensively in the David Anderson & Associates blog article, "Don’t Keep This to Yourself: Trade Secrets Have Value."
Business valuation experts often are asked to value intangible assets of companies. A major component of such assets is intellectual property, which is defined by the World Intellectual Property Organization as creations of the mind such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. The four most well-known categories of intellectual property are: patents, copyrights, trademarks, and trade secrets. This blog post will focus on valuing trade secrets.
To obtain a better understanding of trade secrets, David Anderson spoke with Charles S. Marion, Esq., an intellectual property and business litigation partner with the Philadelphia law firm of Pepper Hamilton LLP. Mr. Marion defined a trade secret as information that derives economic value for not being generally known or readily accessible by others, and for which the owner has taken steps to protect its secrecy. He cited the formula for Coca-Cola and the recipe for Kentucky Fried Chicken as two of the more well-known examples of trade secrets.