Simplify the following text for a Grade 16 native English-speaking person.
Original: A trade secret is a formula , practice , process , design , instrument , pattern , or compilation of information which is not generally known or reasonably ascertainable , by which a business can obtain an economic advantage over competitors or customers .
Simplified: A trade secret is a formula , practice , process , design , instrument , pattern , or a collection of information which is not generally known , invented or created , by which a business can obtain an economic advantage over competitors or customers .