'Know How'
Confidential information or "Know-how" is information which may be commercially or technically valuable and which is regarded as secret. It may, for example, include information on industrial processes or be a list of clients. The law of confidentiality can protect these "trade secrets". A trade secret can be defined as information known to only a few people where disclosure would constitute a breach of confidence.
The confidential information may be background information related to another IP right, e.g. know-how for effectively working a patent or it may be information that is to be protected by a patent where open discussion would constitute prior disclosure. It could be information that is already protected by IP rights, which is to be disclosed to a potential exploitation partner.
In all cases, the "know-how" will only retain its value if it is managed effectively. The law of confidentiality will only be applied if all parties are aware of and agree to the obligation. Employees are likely to be bound by the terms of their employment contract regarding maintaining the confidentiality of their employer's business. All exploitation partners, business partners and collaborators should be bound by conditions of confidentiality through a Non-Disclosure Agreement or Confidential Disclosure Agreement (CDA). This may be a reciprocal agreement whereby confidential information is both disclosed and received.
Know-how and confidential information can be bought, sold and licensed like any other form of IP and persist indefinitely, as long as they remain "secret".