What is a trade secret? - Lexology
Most business owners believe that their business has important confidential
information which must be protected from competitors. Obvious examples of
confidential information are secret formulas or recipes for certain cola
drinks or fragrances. But what about customer lists, customer ordering
patterns or preferences, pricing formulas, marketing strategies, product
designs, sales strategies, and the like? Most business owners would not
dream of disclosing these types of information to a competitor. But when an
employee resigns or is fired, the former employee may decide to disclose
this confidential information to a competitor or the employee may become
the competitor. Most business owners believe that everything about their
business is a trade secret, but they may be in for unpleasant surprises.

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