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trade secret
This term refers to proprietary information that derives economic value from not being generally known. It is distinct from a patent in that it relies on secrecy rather than public registration for protection. Once a trade secret is legally or accidentally disclosed, it loses its status and the competitive advantage it provided.
In legal and corporate contexts, the term is often associated with non-disclosure agreements (NDAs) and strict security protocols. It is typically used in professional, legal, or business registers to describe formulas, processes, or customer lists that are guarded as critical assets.
Meanings
Confidential business information that provides an enterprise with a competitive edge over others.