Simple English definitions for legal terms
Read a random definition: EC
Know-how: Know-how is information that people or companies have about how to use something in a business. It can make things easier or better. Sometimes, it is a secret that a company wants to protect. They might make contracts with other companies or employees to keep it a secret. This is called trade secret protection.
Definition: Know-how refers to non-public information that individuals or companies acquire about how to use something in a business. It can be knowledge that makes using something easier or more beneficial. This knowledge can be about creating a product or managing a business.
Know-how can be legally protected if it meets the requirements for trade secret protection. This means that the creator of the know-how has intangible property rights over the trade secrets and can take legal action if someone misappropriates the trade secrets. However, not all know-how qualifies for trade secret protection.
Companies often protect their know-how through contracts with their business partners and employees. These contracts require the other party to never disclose the know-how, giving the creator of the know-how contractual remedies against any disclosure.
Examples:
These examples illustrate how know-how can be valuable to a business and can give them a competitive advantage. Protecting this knowledge is important to maintain that advantage.