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Generally, a Trade Secret relates to the production of goods, for example, a machine or formula...

Generally, a Trade Secret relates to the production of goods, for example, a machine or formula for the production of a product.

true or false

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Answer #1

Trade Secret:

Trade secret refers to the method of carrying out a business. It related to not only production but to overall business methods. It includes the process, methods, practice, design, formula and the information of doing a business. The information is that which is not known to the general public but only known to the business by which it can have an advantage over its customers and rivals.

Trade secrets are like the intellectual property rights, like the patents, trademarks, copyrights which the government and laws impose to protect the rights of the businesses.

Trade secrets are the information which is generally related to the technical aspect i.e. the method or formula of the business which is used in production of goods.

So, the given statement is TRUE.

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