Confidential information could be any information that an organisation or person wishes not to make public. It is important to keep information secure and confidential to protect against possible online threats, misuse of information, theft, espionage and damage to the organisation’s reputation.
Failure to secure and protect confidential business information can lead to the loss of business or clients. Disclosure of sensitive employee and management information can also lead to a loss of employee trust, confidence and loyalty, as well as a loss of loss of productivity.
Management information about internal activities that are highly confidential, information about planned redundancies, budgets and forecasts or new products and services should always be kept confidential.
This type of information is usually made available to, or is acquired through a relationship between the parties. Information may relate to operational activities or products and services of an organisation. It can also refer to intellectual property, copyright and trade secrets. Documents about a business’s organisational structure, policies and procedures, finances, strategies and transactions are in most cases also considered to be confidential.