It has been nearly three years since we last discussed the lawsuit against legendary rock band Led Zeppelin over “Stairway to Heaven,” so we forgive our readers if they became Dazed and Confused and assumed the case had long ago settled or reached a verdict.
In business, a trade secret is any confidential information that gives your company a competitive advantage within your industry. They are any piece of information that a) is not generally known or reasonably ascertainable by other, and that b) a business takes reasonable measures to protect for economic reasons. A famous example is the recipe for Coca-Cola. That recipe has always been a well-kept secret that has allowed Coca-Cola to earn millions and millions of dollars.
When a person becomes a big enough celebrity, their name becomes valuable property. Endorsements and other uses of their name are so valuable that celebrities often take the legal step of trademarking their name, whether it is their legal name or a stage name.