What is the difference between trade secrets and confidential information?

Trade secrets and confidential information are both types of proprietary information that businesses may possess. The difference between the two is how they are protected. Trade secrets are subject to the Texas Uniform Trade Secrets Act and are given an extra layer of protection under the law. This type of information includes things like formulas, methods, techniques, or processes used by a business. It can also be other business information that gives the business an economic advantage over its competitors. To be protected, the information must be kept secret and must have some commercial value to the business. Confidential information is not protected under the Texas Uniform Trade Secrets Act, but it is still considered a type of proprietary information. This includes information such as customer lists, patents, copyrights, bank records, and other documents, either written or electronic. Confidential information is only considered private if the business takes steps to keep it secure. Even if the information is not protected under the law, it can still give the business an economic advantage, so businesses should always take the necessary steps to protect it. In summary, the main difference between trade secrets and confidential information is the extra layer of protection that trade secrets have under the law. Confidential information is still considered proprietary, but it does not have the same level of protection as trade secrets. It is up to the business to take steps to protect what is considered confidential.

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What is the difference between trade secrets and confidential information?

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