Partner Michael Smith is quoted in today's Law360 article regarding a rare Listerine royalty auction

Unlike patents and copyrights, which have a set lifespan, "trade secrets basically last forever as long as you can keep a secret," said Michael Smith of Birch Stewart Kolasch & Birch LLP.

A modern trade secrets contract would likely take that into account and call for the agreement to terminate if the secret became known, "which would mean the obligation obviously to continue paying would likewise terminate at that time," he said.