ENTREPRENEURSHIP

Detailed explanation-1: -Trade secrets are intellectual property (IP) rights on confidential information which may be sold or licensed. In general, to qualify as a trade secret, the information must be: commercially valuable because it is secret, be known only to a limited group of persons, and.

Detailed explanation-2: -Trade secret law protects such information from theft or unauthorized disclosure. Because one of the principal policies underlying trade secret law is the maintenance of standards of commercial ethics, trade secrets are a rich source of material for exploring questions of business ethics alongside the law.

Detailed explanation-3: -In general, a trade secret has three parts: (1) information (2) economic value from not being generally known by others, and (3) reasonable efforts have been taken to protect the trade secret.

Detailed explanation-4: -The unauthorized acquisition, use or disclosure of such secret information in a manner contrary to honest commercial practices by others is regarded as an unfair practice and a violation of the trade secret protection.