Final answer:
Companies should handle written trade secrets by restricting access to them and using secure methods of storage to keep their proprietary information safe. This ensures the valuable trade secrets, like company practices and formulas, are protected from theft and industrial espionage, maintaining a competitive advantage.
Step-by-step explanation:
Companies should handle written trade secrets by restricting access and using secure storage. Trade secrets are methods of production kept secret by the producing firm, encompassing valuable information like formulas, practices, processes, designs, instruments, patterns, or compilations of information. An example of a trade secret is the formula for Coca-Cola. It is vital for companies to protect these secrets to maintain a competitive edge, therefore, they should not share them openly, rely solely on employee discretion, or discard them.
Roughly speaking, patent law covers inventions and copyright protects books, songs, and art. However, there are instances, such as in the invention of new software, where it may be unclear whether patent or copyright protection should apply. Hence, guarding trade secrets through restricted access and secure storage becomes even more crucial for companies operating in such ambiguous areas.
Furthermore, practices like industrial espionage highlight the importance of vigilant and protective measures for trade secrets. Companies must actively prevent such unauthorized acquisition and use of their confidential information to prevent losses and preserve their proprietary advantages.