I'd say it is considered inside information if you convey any notion of how the business goes to a select (closed) group of people, and it will be illegal of th

I'd say it is considered inside information if you convey any notion of how the business goes to a select (closed) group of people, and it will be illegal of them to act on that information. Is it illegal for you to act on that information? I should think so, but it will be hard to prove unless you do a unreasonably large trade.