An engineering firm is hired by a developer to prepare plans for a shopping mall. Prior to the final bid date, several contractors who have received bid documents and plans contact the engineering firm with requests for information relating to the project. What can the engineering firm do?

Question

Business

Regan

3 August, 15:56

An engineering firm is hired by a developer to prepare plans for a shopping mall. Prior to the final bid date, several contractors who have received bid documents and plans contact the engineering firm with requests for information relating to the project. What can the engineering firm do?

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Answers (1)

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Erica Adams · Answer 1

The company must reserve the confidentiality of the facts, data or information related to the project.

Explanation:

Business secrets are all those reserved aspects of the entrepreneur that are used continuously in his business operation. This concept encompasses two species: the industrial secret and the trade secret.

To the first species belong the knowledge, procedures, production inputs, storage and preservation techniques, among others, that an entrepreneur wishes to keep hidden by the competitive value or advantage that they mean; while to the latter belong the knowledge related to the commercial activity itself, such as sales and advertising strategies, etc.