Top secret: Integrating 20 years of research on secrecy

Secrets are a double-edged sword. They are crucial for protecting valuable knowledge and appropriating value from innovation; they also invite consumer curiosity and in doing so may generate demand. On the other side, secrecy may invite suspicions, distrust, and miscommunication. In this paper, we review the growing body of research on secrets and secrecy. Our review reconciles the various theoretical perspectives on secretive protective mechanisms and their consequences, both positive and potentially detrimental. We adopt a dynamic relational perspective towards secrecy and develop a multilevel framework to categorize and define four major types of secrets: trade secrets, reputation secrets, power secrets, and marketing mix secrets. Finally, we outline a research agenda by pointing out understudied themes and underemployed theoretical perspectives on secrecy.