Question

_________________ is any form of knowledge or information that: 1) has economic value from not being generally known to, or readily ascertainable by proper means by, others; and 2) has been the subject of reasonable efforts by the owner to maintain secrecy.

Answer 1

trade secret.

Step-by-step explanation:

Trade secrets can be defined as a type of intellectual property that includes formulas, designs, instruments and practices and any type of standard or information that has an economic value due to the difficulty of being copied or known, therefore the owner decides to keep his intellectual property in the form trade secret.

Some of the characteristics of a trade secret are that it confers economic benefits to its holder, it is not known to the public and the holder of the secret maintains efforts to maintain confidentiality. These three characteristics define a trade secret under international law.

Answer 2

Trade secret

Step-by-step explanation:

Trade secret is a form of information that gives an organization economic advantage over its competitors.

Trade secret can be described as a form of valuable information that is used in managing a business, it gives the organization an upper hand against it's competitors.

Recipies and ingredients for a consumable product, programming codes for a computer application, marketing strategy used by an organization to attract customers, customer's information are all categorized as trade secrets.