Trade secrets encompass a wide range of information, including formulas, practices, processes, designs, instruments, patterns, or a compilation of information that allows a company to obtain an advantage over competitors that do not know or use it. Unlike patents, trade secrets are not registered with any government entity, meaning there is no official record of their existence. Protection of trade secrets is based on the efforts made by the company to keep the information secret, including non-disclosure agreements (NDAs) and internal security measures.