A trade secret is any company practice or process that is generally unknown outside of the company.
what is trade secret?
Trade secrets are intellectual property (IP) rights on confidential information that can be licensed or sold. In general, for information to qualify as a trade secret, it must be:
Commercially valuable because it is secret, known only to a small number of people, and subject to reasonable steps taken by the rightful holder of the information to keep it secret, such as the use of confidentiality agreements for business partners and employees.
Unauthorized acquisition, use, or disclosure of such secret information by others in a manner inconsistent with honest commercial practices is considered an unfair practice and a violation of trade secret protection.
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