ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Information a company wishes to keep confidential.
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A contract between two or more parties where the subject of the agreement is a promise that information conveyed will be maintained in secrecy
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Either A or B
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None of the above
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Detailed explanation-1: -Proprietary information, also known as a trade secret, is information a company wishes to keep confidential. Proprietary information can include secret formulas, processes, and methods used in production.
Detailed explanation-2: -Confidential refers to information that’s meant to be kept secret between certain groups of people. Proprietary information is property or ownership claimed by certain people. A company’s trade secrets are considered confidential information and are also proprietary information since they’re owned by the company.
Detailed explanation-3: -Protect Data Through Binding Agreements Nondisclosure agreements (NDAs) are essential for any business that deals in proprietary information. An NDA should outline specific data, processes, and miscellaneous information that is unable to be shared with third parties.