Trade Secret

TRADE SECRET shall have the meaning set forth in  § 7-74-102(4) (2011) of the Colorado Uniform Trade Secrets Act.

Source: Oil and Gas Conservation Commission, Practice and Procedure, Code of Colorado Regulations, 2 CCR 404-1, February 2013. Regulations


Trade Secret

Any formula, pattern, device, or compilation of information that is used in a person’s business, and that gives the person an opportunity to obtain an advantage over competitors who do not know or use it. The six factors considered in determining whether information qualifies as a trade secret, in accordance with the definition of “trade secret” in the Restatement of Torts, Comment B to Section 757 (1939), as adopted by the Texas Supreme Court in Hyde Corp. v. Huffines, 314 S.W.2d 763, 776 (Tex. 1958), include:
(A) the extent to which the information is known outside of the company;
(B) the extent to which it is known by employees and others involved in the company’s business;
(C) the extent of measures taken by the company to guard the secrecy of the information;
(D) the value of the information to the company and its competitors;
(E) the amount of effort or money expended by the company in developing the information; and
(F) the ease or difficulty with which the information could be properly acquired or duplicated by others.

Source: Oil and Gas Division, Texas Administrative Code, Title 16, Chapter 3, February 2013. Regulations


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