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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebTrade SecretDefinitionA trade secret refers to confidential and valuable information that is protected by law, giving its owner a competitive advantage in business. It can include formulas, patterns, compilations, methods, techniques, or any other type of proprietary knowledge. Sense 1: Intellectual PropertyIn the realm of intellectual property, a trade secret is categorized as a type of intangible asset that is not publicly disclosed and is known only within a certain company or a restricted group of individuals. Unlike patents or copyrights, trade secrets do not require registration and can be maintained indefinitely as long as they are kept confidential. Example sentence: The recipe for the world-famous cola brand is a fiercely guarded trade secret that has been passed down through generations. Sense 2: Business CompetitionIn the context of business competition, trade secrets provide a competitive edge by granting exclusivity over certain practices or information. Companies invest in safeguarding trade secrets to prevent unauthorized access by competitors, as disclosure can lead to loss of market share or advantage. Example sentence: The software company took legal action when an ex-employee revealed trade secrets to a rival organization. Related ProductsExplore related products on Amazon: | ||||
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