A new product is much more than the combination of materials used to fabricate it.
Companies may own not only the product, but all of the ideas behind the product, the designs, the designs that never made it off the drawing board, the manufacturing process, the brand, and other elements that fall under the general heading of intellectual property.
In addition, they may own everything generated in the creation of the product, such as paperwork, computer files, e-mail memos, sketches, prototypes, even the trash produced during the entire process of getting the item to market.
If one of your competitors discovered that you were intending to create, manufacture and market a lens for cell phone cameras, there could be repercussions. Exposure of this information could lead to your client losing an edge in the market.
A rival company could take that information and use it to either create a better lens or step up production on its own similar product to beat you to market. Your competitor would also know something about your business strategies that could give them a tactical advantage, as well.