How is a "trade secret" defined?

A trade secret is defined as proprietary knowledge that provides a business with a competitive advantage. This could include formulas, practices, processes, designs, instruments, or patterns that are not generally known or easily accessible to others. The key aspect of a trade secret is that it must be kept confidential to maintain its value in providing an edge over competitors. Unlike a patent, which requires public disclosure and official registration, a trade secret relies on its secrecy to protect the business's interests and market position. This definition underscores the significance of trade secrets in maintaining the uniqueness of a business's offerings and strategies in the marketplace.

The other options lack the essential elements that define a trade secret, such as confidentiality and the competitive advantage provided by non-disclosure. They refer to ideas or strategies that are publicly disclosed or legally protected by other means, which do not encapsulate the nature of a trade secret.