Analyze the following Case in this week's module. Securities brokerage firm Charles Schwab filed suit against a former employee who left the company and started his own wealth management firm. Charles Schwab claimed that the names of its clients, along with information regarding their accounts and assets, were trade secrets. The employee, therefore, misappropriated these trade secrets when he contacted the clients to ask them to transfer their accounts to his new firm. Charles Schwab argued that the employee could not have learned of these individuals but for his work at the Charles Schwab brokerage.
Legally, what constitutes a trade secret? Does it apply to the facts of this case?
a. Trade secrets include any information that is publicly available
b. Trade secrets must be disclosed to employees upon termination
c. Trade secrets are protected under copyright law
d. Trade secrets encompass information that provides a competitive advantage and is kept confidential