TRUTH 37 Trade secrets: Guard them carefully

Most businesses, including start-ups, have a wealth of information that is critical to their success but does not qualify for patent, trademark, or copyright protection. Some of this information needs to be kept secret to help a business maintain its competitive advantage. An example is a business’s customer list. A business may have been extremely diligent over time tracking the preferences of its customers, helping it fine-tune its marketing message and target past customers for future business. If this list fell into the hands of one or more of the company’s competitors, its value would be diminished, and it would no longer provide the company a unique competitive advantage.

A trade secret ...

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