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  • Category: Miscellaneous

    What does it mean by the phrase 'trade secret'?

    Generally, during our day to day interactions with people, sometimes, we come across the phrase 'trade secrets'. People say that it is my 'trade secret' and why I should tell you about the same. Patents about a formula, system, process, design, instrument, procedure etc. can be understood to be a trade secret but I wonder as to what type of a trade secret an individual or a student can have.
    Perhaps trade secrets are not taught even in the premier management institutions to the students during their studies in MBA or PGP courses.
    Sometimes, it appears that trade secrets mean malpractices like adulteration, under measurement, tax evasion, manipulation etc. which are passed on from generation to generation within a business family. Such information is not known to the outside world and because of such reasons only a new entrepreneur fails in the business and end up becoming a failure overburdened with the bank loans etc.
    What are your observations about the subject matter?
  • #574768
    By standard definition, the term Trade Secret would mean a formula or a method that gives an upper hand to an organisation or business house an upper hand against the competitors. The information is, generally, not shared with others.

    The term is also used in other forms like "Confidential Information" or "Classified Information". Military circles seem to use the term Classified Information in this context. The information contained in that context would not be available for any outsider.

    As the case of the usage as brought out by the thread author, it could be a slang usage. The term is being used by those who have no proficiency in the English language can use it to mean the information they would not want to share with others.

    Live....and Let Live...!

  • #574785
    Generally people crack upon some winning combinations in their life and if that is practiced , they wont get in to loss and always get benefited. Having seen such progressing life, people would question the secret behind such success and for which the pet answer would be trade secret. For every work there is always a short cut, professional way and a long method to complete the same. Professionals always wants to complete the work with more professional touch to earn the applause of others. Long methods are not liked by one one. Hence short cut methods always interests every one as one can make fast amount through short cuts but getting familiar with them is important.
    K Mohan
    I consider myself as the learner everyday

  • #574805
    Under the similar opportunity, some really excel well and others lag behind despite being given encouragement from the near and dear ones. In order to attain success, one must remain in the state of tranquility and that alone is not sufficient to achieve success. There are other parameters such as basic concept, consistent practice, time management and the skill to influence others with respect to his quality of job. On attainment of goal, he may reveal his trade success for his outstanding achievement. However, there is definitely something special which made a man successful and even by copying the same way by others may not click.

  • #574813
    The actual definition of a trade secret is as follows. A trade secret is a formula when used leads to economic advantage over the competitors and therefore not revealed to others. And, this word is used only in the field of business. In other fields, such an information is categorized as confidential or classified. As a trade secret would make an easy way for any person to win, it will not be revealed by the ones who know it.

  • #574836
    Any secret information that cannot be revealed by a businessman for his successful business is known as 'Trade Secret'. No one on this earth would like to share such secret information except to their own kith and kin, very close relatives, reliable trustworthy friends who may not share this information with others.

    Trade Secret is purely related to business only, and is an action performed for success in business, if shared the business might get affected. Other persons would term it as 'Personal Secret'

    No life without Sun ¤


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