Formulas, process parameters and customer lists are sometimes better protected as trade secrets than as patents.
A patent requires you to disclose your technology in exchange for protection for a fixed period, while a trade secret can be protected indefinitely as long as it stays confidential.
To qualify as a trade secret, information must
- Be secret and not generally known
- Have actual or potential economic value
- Be subject to reasonable confidentiality measures
Confidentiality measures include NDAs, document classification and access control. Keep records of them as part of daily operations.