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What is the purpose of 'trade secret' protection?

To ensure company profits are distributed fairly

To restrict access to public records related to businesses

To safeguard against unauthorized use of confidential information

The purpose of 'trade secret' protection is fundamentally to safeguard against unauthorized use of confidential information. A trade secret can include formulas, practices, processes, designs, instruments, patterns, or any information that provides a business advantage over competitors who do not know or use it. The protection allows businesses to keep their proprietary information secure from competitors and unauthorized individuals, thus maintaining their competitive edge and the value of their innovations.

Unlike patents, which require public disclosure, trade secrets can remain protected as long as they remain confidential. This aspect emphasizes the importance of maintaining confidentiality through various measures such as non-disclosure agreements and employee training, helping organizations protect their most valuable information from being disclosed or utilized without permission.

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To manage employee rights and obligations

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