On the topic of insider trading, I’m not asking for legal advice but I’m curious to hear other people’s opinions about whether or not something is insider tradi

On the topic of insider trading, I’m not asking for legal advice but I’m curious to hear other people’s opinions about whether or not something is insider trading that you could expect to get charged for. Consider, for example, that you work on the Bing team at a Microsoft and you know that you’re about to release a new search engine feature that’s Really Good (fast, accurate results, etc). You’re confident that it will do well in the market. Obviously you can’t trade Microsoft stock using this knowledge. But can you trade Google stock if you think it will affect Google’s stock price? On one hand I believe this is insider trading because I asked legal counsel at a company I was working at once and they said that “any material information is insider information, regardless of whether you’re an insider at that company or not”. Seems reasonable: it’s non-public information that you think will materially affect the stock market. On the other hand I don’t really think this is insider trading because this sounds like it would disqualify just about everyone from participating in the stock market of the industry they work in. P.S. This is an academic discussion because I don’t pick stocks, I passively invest with index funds.