Essay Secret Information And Confidential Information

2411 Words Apr 25th, 2016 null Page
As we all know a successful company has its tactics and strategies to progress in any field, but what is known to the public isn’t always the full recipe on how to succeed just like them. This is where trade secrets and confidential information come into play for any company or organization. Trade secrets include formulas, strategies, lists of contacts, programs, or processes utilized that are kept between their rightful owners and some employees. Like any other secret, confidential information holds a strong value to the company and if any of it is shared among competitors or the public they gain an insight and take advantage of the information to build an even stronger plan. Although a company might feel as if anything they do is to be kept a secret, factors do play a role to see if the information qualifies as a trade secret. In Meredith MacDonald’s article, “Protecting Confidential Information and Trade Secrets in Your Organization” she mentioned four factors in trying to figure out what is a trade secret. She said a trade secret must hold a value to the employer and competitor, there must also have been money and effort put along to develop the information. She also says that the measures taken to guard it as well as the difficulty that the information could be duplicated or acquired take a major role. The last factor was the extent that the information is known or has been said to the public. Along with trade secret comes the responsibility put upon the employer and…

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