Secrets of Intellectual Property Protection

Advantages of Trade Secrets

Trade Secrets

There are two ways to protect an innovation. You can choose to patent it or keep it secret. I have been discussing at length the benefits of patents. Some perceived advantages of trade secrets are:

· Trade secrets can protect “abstract ideas” and patents cannot.

· The protection under trade secret remains for an unlimited period of time.

· There are no filing fees for trade secret protection.

· A trade secret creates cache and an aura of mystery.

Coca-Cola

One of the most famous American trade secrets is the recipe for Coca-Cola. The mystique surrounding the formula has lasted more than 100 years. It has been the source of publicity and marketing campaigns. It has also been an enduring…