How to Keep Trade Secrets Secret When Regulators Expect AI Transparency
Trade secrets are a pivotal element in the competitive strategies of businesses, fostering innovation and providing a f lexible, cost-effective means to safeguard valuable business information . They are an instrumental part of both corporate governance and compliance . Anything that is safeguarded and has independent economic value can be a trade secret, including business processes, advances in technology, secret formulas, algorithms and more. The protection of trade secrets is fundamental for maintaining a competitive edge, spurring investment in research and development and driving economic growth. This is particularly salient in the age of AI, where organizations are using generative AI prompts and outputs to improve operations and are, in some cases, creating new AI-based technologies. Trade secrets are subject to certain risks and compliance obligations as a result of new AI-related laws and regulations in the EU and the...