Management Of Confidential Business Information And Trade Secrets: Findings Of An International Survey

We conducted an international exploratory study on the perceptions of Confidential Business Information (CBI) and Trade Secrets (TS), and their management. Empirical data collection was conducted through a series of telephone interviews. The survey included both quantitative (multiple selection) questions and qualitative (open-ended) questions. We obtained a variety of perspectives on the studied topics from 36 experts residing in 11 countries and representing altogether 21 industry sectors. Key findings of the study include the following: The surveyed companies were involved with many types of CBI. Different types of CBI had varying relevance for the respondent companies depending on the industry sector they represented. Key challenges of managing CBI and TS included the varying legislations in different countries, in particular unclear definitions and the perceived lack of enforcement. The need for improving employee behavior and attaining a savvy company culture with regard to handling valuable information were also seen as seminal challenges. An additional major challenge was in finding the best combination of formal and informal protection mechanisms and tools for providing the optimal protection for a body of valuable information. As a partial solution to this challenge, we identified five complementary approaches for protecting a body of information. These approaches include the following: refraining from documenting a part of the valuable information; documenting a part of the information and keeping it as a TS; filing a patent application covering a part of the information; using registered IP rights to protect a part of the information; and publishing a part of the information.