# Proprietary information

`kaal:entity:proprietary-information`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `proprietary-information`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2011 to 2016.

**2011**

- [1806252-009](https://wulfkaal.github.io/claims/1806252-009) [failure/argued] *(failure mode)* -- Regulators who obtain hedge funds' proprietary information could inadvertently pass it to third parties, and because that information is highly valuable to competitors in the same markets, such leakage could undermine trading strategies and the long-term viability of hedge funds.
  > The confidential nature of this information makes it highly valuable for third parties who engage in the same markets as the owner of the proprietary information, and this form of leakage could undermine trading strategies and the long-term viability of hedge funds.
  Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252

**2016**

- [2714974-033](https://wulfkaal.github.io/claims/2714974-033) [failure/argued] *(failure mode)* -- A system in which hedge funds submit position information to an authority that aggregates and publishes it cannot address liquidity risk, because protecting proprietary information requires so much aggregation that the resulting information loses value to market participants.
  > Protection of proprietary information would require so much aggregation that the value of the information to market participants would be substantially reduced.
  Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/proprietary-information.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.