Understanding Trade Secrets

The video explains trade secrets as confidential information with economic value, protected from disclosure. It provides examples like customer lists and famous cases such as Coca-Cola's formula. The video also discusses how trade secrets can be violated by unauthorized use or disclosure.

What is a key characteristic of a trade secret?

• It should be known by everyone.

• It is always a physical object.

• It must be patented.

• It has economic value and is not easily accessible.

Which of the following could be considered a trade secret?

• A published scientific paper

• A government-issued ID

• A company's confidential customer list

• A publicly available phone book

How can someone violate a trade secret?

• By creating a similar product independently

• By wrongfully acquiring and using the secret

• By discussing it in a private meeting

• By reading about it in a newspaper

Why has Coca-Cola not patented its formula?

• To keep it a trade secret and avoid public disclosure

• The formula is not valuable

• Patents are too expensive

• They plan to patent it in the future

Which of the following is NOT an example of a trade secret?

• KFC's original recipe

• A new smartphone model

• Bush's baked beans recipe

• Coca-Cola's formula