What is the difference between trade secrets and confidential information?

Trade secrets and confidential information are closely related, but there are key differences between the two. Trade secrets refer to any information, including formulas, processes, devices, programs, methods, or techniques, that have commercial value and are kept secret from others who could benefit from them. Confidential information, on the other hand, refers to any kind of information that is not generally known by the public and is not readily available from public sources. In California, trade secrets are protected under the Trade Secrets Law, which requires that reasonable steps be taken to maintain the secrecy of the information. Confidential information does not necessarily have to have commercial value, unlike trade secrets. This means that confidential information could include things like financial information, customer lists, or internal business plans. Unlike trade secrets, confidential information is not necessarily legally protected, although courts can impose penalties if the information is used without authorization. In summary, the main differences between trade secrets and confidential information are that trade secrets have commercial value and are legally protected, while confidential information does not necessarily have commercial value and is not necessarily legally protected.

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What is the difference between trade secrets and confidential information?

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