Final answer:
A written trade secret plan provides enhanced protection and clear guidelines for a company's proprietary information, supporting its competitive advantage and serving as legal proof of protection efforts.
Step-by-step explanation:
The benefits of developing a written trade secret plan include enhanced protection for a company's intellectual property and the establishment of clear guidelines for maintaining secrecy. By clearly outlining procedures for handling sensitive information, companies can establish a robust framework to deter theft or accidental disclosure of their trade secrets. A written plan can serve as proof of the company's proactive efforts to protect its secrets, which is crucial in legal contexts. Examples like the formula for Coca-Cola demonstrate the enduring value of trade secrets that are well-protected. Furthermore, a strong trade secret plan supports the company's competitive advantage by guarding against unauthorized use of its proprietary information.