Trade secrets are best defined as information not generally known that provides an advantage, and may include which of the following?

• A. Employee names only
• B. Patents that are filed
• C. Information not generally known that provides an advantage, including formulas, industrial processes, business strategies, and customer lists
• D. Public press releases

Answer: (C)

Trade secrets are information that is not generally known, has economic value from being kept secret, and is safeguarded to maintain that advantage. This can include things like formulas, manufacturing processes, business strategies, and customer lists because, when kept confidential, they give a company a competitive edge. The other options involve information that is public or not inherently valuable as a secret, so they don’t fit the concept of a trade secret.