A business formula, information compilation, or device that provides an advantage over competitors that do not have it is known as a:
A) competitive advantage.
B) strategic advantage.
C) trade secret.
D) restraint of trade.

Question

Quizplus · Accepted Answer

A trade secret refers to a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

A Business Formula, Information Compilation, or Device That Provides an Advantage