The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information.

美联储12月8日答复说，它有权保留其内部备忘录以及有关的交易秘密和商业信息。

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Section 4 covers "trade secrets and commercial or financial information" — in other words, the privacy is appropriately focused on information that could put them at a competitive disadvantage.

第四条包括：“商业秘密和商业或财务信息”--换句话说，披露这些隐私在竞争中产生不利影响。

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By registering his passage, the captain of a commercial vessel can trade information about pirate activity with naval patrols.

货船的船长可以通过登记其航线与海军巡航对换取海盗的活动信息。

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"We draw the line at agency reference to or reliance on Genentech trade secret and confidential commercial data and information to approve a competitor's product, " the petition states.

FORBES: Genentech's Generic Battle

As a result, for those eager to uncover a little more information about these funds and their managers, the best sources of data are often either trade associations or private commercial firms who have been able to accumulate enough information upon which to make reasonable estimates.

FORBES: Looking Inside Private Equity and Hedge Funds