In this chapter, we look at how business secrets, which include but are not limited to trade secrets and sensitive information, can create value to organisations, and we also look at how they increase value for them. We consider both monetary and non-monetary benefits. We consider the forms of business secrets that create value, and how organisations can identify and manage them. We provide some example approaches for organisations to develop valuations for IP assets, including business secrets. Finally, we also consider the associated downsides of business secrets—the associated costs to maintain, and potential costs of loss. In this chapter, our initial focus is the corporate context, looking later to the context of Higher Education Institutes (HEIs) and Independent Research Organisations (IROs).