5 Famous Examples of Notorious Trade Secrets
A trade secret is any information or business dealing that cannot be shared outside of the company where it belongs. Their economic value defines them. In other words, if a competitor were to get their hands on your trade secret, it could potentially harm your business. You may think that you are not privy to trade secrets, which is true, but you probably know of their existence. Don’t think so? Here are five examples of famous trade secrets that we would bet money you have heard of before:
- KFC’s 11 Herbs and Spices: This Kentucky Fried Chicken trade secret is so well known that it has been used in marketing campaigns for the fast-food chain. Everyone knows that the Colonel’s secret recipe is what makes that chicken so delicious, but no one outside of the company actually knows what that recipe is.
- The New York Times Bestseller List: What qualifies a book for the New York Times Bestseller List? No one outside of the NYT knows. They keep their criteria a secret. It isn’t as simple as copies sold. To this day, the paper refuses to release its system.
- The Google Search Algorithm: Google is the gatekeeper to most companies. If you cannot be Googled and found, you virtually do not exist in the consumers’ eyes. Incredibly, no one knows exactly how Google ranks the sites it displays to searchers. An entire industry has developed around that secret. Search Engine Optimization professionals dedicate their careers to helping companies to rank highly on Google, even if they don’t understand precisely how they should be doing it.
- Coca-Cola: Do you prefer Coke or Pepsi? If you prefer Coke, it is likely because of their secret recipe. To this day, the recipe for Coke is a closely guarded trade secret. In 2006, a few employees stole the formula and tried to sell it to Pepsi, but Pepsi blew the whistle on them, and Coca-Cola’s trade secret was maintained.
- Krispy Kreme Doughnuts: If you are a die-hard Krispy Kreme fan, it may be thanks to their secret recipe. To this day, only a few employees know what it is.
Trade secrets are all around us. Once you start paying attention, you notice them everywhere. If you need help protecting your trade secret, contact the Jafari Law Group today.