What are the differences between trade secrets and confidential information?

Trade secrets and confidential information are similar in that both are pieces of information that must be kept confidential and secure. However, there are some key differences between the two terms. Trade secrets refer to a specific type of information that is valuable to the company that possesses it, often because it helps give the company an edge over its competitors. This could include things like a formula, technology, a design, or a process that only the company knows about. To be considered a trade secret, it must be kept a secret from others and be the subject of reasonable efforts to maintain its secrecy. On the other hand, confidential information does not have to provide the company with a competitive advantage. Instead, it can simply be private information that the company does not want to share with the public. In Massachusetts, confidential information is protected by attorney-client privilege and attorney work product doctrine. In summary, the main difference between trade secrets and confidential information is that trade secrets are information that gives the company an advantage over its competition, while confidential information is just private information that the company does not want to share. Both must be kept secure and confidential in order to be protected under Massachusetts law.

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