All of the Following Are Required for Information to Be

question 16

Multiple Choice

All of the following are required for information to be considered a trade secret except:

• A) it must have commercial value to its owner.
• B) the owner must have taken steps to protect it.
• C) it must be unique.
• D) it must be something that others do not know.

---

Definitions:

Exact Value

The precise numerical quantity or measurement without approximation.

Estimate

To make an approximate judgment or calculation of the value, number, quantity, or extent of something.

Winner's Curse

A phenomenon that occurs in auctions where the winning bidder pays more than what the item is actually worth, usually because of incomplete information or misjudgment.

Common-value Auction

an auction format where the item for sale is of the same value to all bidders, but the bidders have different information about the item's actual value.