Secrecy has been defined by Siemel (1906) as having the ability or being in the habit of keeping secrets. Secrecy has over the years been used by many corporations as a business strategy for different purposes. In most cases, however, the strategy has been used in the protection of a corporation’s intellectual property. This is based on the fact that investment is the main driving force behind wealth and growth. This realization has, thus, led to the industrial economy being driven mainly by an economy that is knowledge based. Such economy relies on knowledge, and new strategies need be developed regularly in order to ensure that the knowledge that is captured within a corporation is protected. This has mostly been advanced with the advent of technological innovations and cut-throat competition amongst most of the key players, as well as the advancement of network effects. Notably, keeping one’s strategy secrecy is important in many aspects. Secrets can be used as a strategy for ensuring corporate security. This strategy has continued to develop and be utilized widely despite continued calls for the regulation of the trade secrets (Dreyfuss, 2011).
One industry has successfully managed to incorporate this concept in their business strategy is the Apple Computer. The company has managed to ensure it receives high demands in the market, as compared to most of their competitors, by creating speculations as to their products, one of the key roles of secrecy as a strategy (Wingfield, 2006). In the end, the company has managed to maintain a high product-selling domination. It is, thus, without a doubt that the concept is the most successful where there is a high level of technological advances, high competition, as well as possibility of infringement of the IP rights. Undoubtedly, the use of secrecy is vital for the continued development of an economy that is knowledge-based (Korres, 2008). On the flipside, the international business world has in the recent past been seen to move towards conducting their business in a more open and shared manner. This has been advanced by concepts like ‘open source’ and ‘open innovation’ technologies (Chesbrough, 2006). This has been argued as being efforts towards the maintenance of generated value, as well as the advancement of technological innovations which can only be best achieved through the sharing of knowledge amongst corporations and also amongst their customers.