What defines trade secrets?

[King Belieal]

We have heard that businesses should always try to protect their trade secrets as they are very important. What are the scope of the details that constitute a trade secret for a business? Is trade secrets also directly related to production of goods and services?

 

[Kross]

Any information that gives a business a competitive edge over other businesses in the future industry is it's trade secret. Example is production formula.

 

[Fidelia]

One of the most important trade secrets is the strategy that a business uses to price it's products. Another one is it's product design process.

 

[eLdavis]

A trade secret could be anything, the most important thing is that it should give the business a competitive edge over other businesses.

 

[Suba]

Trade secrets can be defined as confidential information and have economic value, not informed to the public or even to employees, these trade secrets must be strictly guarded by business owners, such as food recipes, production methods, marketing strategies, etc.

 

[Augusta]

A trade secret or trade secrets encompass a wide range of information, including formulas, designs, processes, compilations of information of a business

 

[wisdom01]

Trade secrets can be defined as confidential information and have economic value, not informed to the public or even to employees, these trade secrets must be strictly guarded by business owners, such as food recipes, production methods, marketing strategies, etc.

Trade secrets are valuable confidential information that gives businesses an edge, like secret recipes or production methods, and must be protected from disclosure.

 

[King Belieal]

Trade secrets are confidential information that makes up the nexus of a business. They are information that gives a business competitive advantage. It could be production formula most times.

 

[kit_hung]

One of the most important trade secrets is the strategy that a business uses to price it's products. Another one is it's product design process.

The biggest secret in the business world is product pricing because that's where the competition begins. The manufacturing process is something that companies are hesitant to reveal. Since these two factors determine quality and profitability, companies are eager to protect their position in the market.