Question

A trade secret is a formula, device, process, method, or compilation of information that, when used in___________ , gives the owner an advantage over _______who do not know the ________information. In addition to considering the competitive advantage, a court will consider whether the information was , ________and___________ (and/or expensive) to obtain, when determining whether something is a trade secret. Another important consideration is whether the company made to __________protect it.
Fill in the blanks with words that would best complete the passage.
a. difficult
b. extraordinary efforts
c. interesting
d. the public domain
e. employees
f. commercial
g. reasonable efforts
h. desirable
i. conceal
j. readily available

Answer 1

Answer:

Business; competitors; secret; readily available; difficult; reasonable efforts.

Explanation:

A trade secret is a formula, device, process, method, or compilation of information that, when used in business, gives the owner an advantage over competitors who do not know the secret information.

In addition to considering the competitive advantage, a court will consider whether the information was, readily available and difficult (and/or expensive) to obtain, when determining whether something is a trade secret. Another important consideration is whether the company made reasonable efforts to protect it.

For example, the recipe and ingredients used in the manufacturing of popular soft drinks and alcoholic beverages is a trade secret that isn't known to many people around the world.