What fundamental requirement must be met for information to be classified as a trade secret?

For information to be classified as a trade secret, it must be valuable and kept secret. The essence of a trade secret lies in its economic value derived from not being generally known or readily ascertainable by others who can obtain economic value from its disclosure or use. This characteristic of secrecy is crucial; it must be actively maintained and protected to ensure that the information does not lose its status as a trade secret.

The requirement of value is just as important. If the information lacks economic value—meaning it could not provide a competitive advantage—then it does not meet the fundamental criteria for classification as a trade secret. Therefore, the combination of the information being both valuable in a business context and kept confidential is what solidifies its status as a trade secret.

The other options do not align with the legal definition of a trade secret. For example, it is not necessary for the information to be in print form, nor does it need to be exclusively created in-house, or require multiple users. These factors do not inherently contribute to the trade secret's value or the need for secrecy.