Commercial secret definition
Commercial secret means technical, technological, commercial or organisational information belonging to the undertaking and not disclosed publicly, the confidentiality of which is protected by the undertaking, except for information that cannot be considered a commercial secret under the laws of the Republic of Lithuania.
Examples of Commercial secret in a sentence
Commercial secret - any information that can be used by other entities, which will cause losses (financial, property, etc.), loss of business reputation, competitive advantages, trust of clients of the Disclosing party.
All information considered as Confidential hereunder, has the status of the Commercial secret, the obligation for which protection is assumed by IB.
The IB bears responsibility for illegal receiving and disclosure of the information classified as Commercial secret.