For years, Coca-Cola Corporation did not enter India since the government wanted some kind of disclosure of their trade secrets

Why are trade secrets so important and what happens if a licensee or a government gains access to the licensor's trade secret?

Trade secrets, like the formula of Coke, are confidential information or knowledge that has commercial value and is not in the public or government domain. Careful steps have to be taken by those who have access to these trade secrets. Trade secrets include manufacturing processes, formulas, designs, and customer lists. To prevent disclosure, the licensing of unpatented trade secrets should be linked to a confidentiality contract with everyone who has access to the protected information. In the United States, trade secrets are protected by state law rather than federal statute. The U.S. law provides trade secret liability against third parties that obtain confidential information through an intermediary. Remedies include damages and other forms of relief.