💼 A trade secret is generally unknown to the general public as well as the business circle and confers a benefit to the business owner. Some of the examples are information relating to a formula, pattern, device or other compilation of information that is used for a considerable period of time in business. It may also include may relate to marketing, export or sales strategies, or a method of bookkeeping or other business management routines or procedures, including the software used for various business purposes. The reason to hide such information is that this information provides an economical advantage to the owner compared to its competitor.