legal definition of confidential information
Confidential information can be the most valuable asset of a business. A competitive edge in the marketplace may rely on a business having certain information which its competitors do not. However, unlike more tangible assets, the law may not automatically prevent others from taking or using valuable information.
Confidential information is often only valuable if it can be used. Such use of information will invariably involve, (a) storage of the information in an accessible form; and (b) its disclosure to others.