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What defines trade secrets?

King Belieal

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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?
 
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.
 
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