Patent and Trade-Secret

"Patents" and "trade secrets" used by companies and organizations to protect their inventions and discoveries from being copied illegally. Most companies are often faced with the choice between these two IP protection. Each has its advantages over the other and both should be considered while going for studious appropriate intellectual property strategy.

"patent" was granted the right to the inventor by the government comes to the country to provide exclusive rights to, use, import, sale and offer for sale the invention for 20 years. This is the real owner of the company qualified for their profit from the invention or discovery in exchange for disclosing their inventions and the process of the invention. For example, many pharmaceutical companies patent their molecules and process development of molecules that gives them exclusive rights to produce the molecule by at least 20 years. No other company or companies may manufacture or sale of this product without prior consent of the patent holder. But after 20 years of this invention becomes public, and any competitor (individual or company) can use the same invention and the product in order to profit from it.

On the other hand, "trade secret" means information (eg a recipe, formula or pattern), which provides value to its owner, because no other company or individual has the ability and authority to duplicate even after 20 years and information was never publicly by the government. Firms can gain from this product, as long as they can to keep the invention secret and confidential. For example, many soda manufacturing company never disclosed the ingredients in soda. In doing so, companies can ensure that no competitor can never make the same product.

"Patents" and "trade secrets" are interconnected, meaning "trade secrets" may become "Patent" at any point of time, if a trade secret-holder to do. This can be done after filling the corresponding patent application with the concerned governments. However, the reverse is not possible to mean "patent" can be transformed into a "trade-secret", because the invention was already in the public domain.

As discussed in the previous part of the article that most companies are often faced with the choice between these two forms of IP protection. Each has its advantages over the other and both should be considered while going for studious appropriate intellectual property strategy. Here is a list that compares between these two forms of IP protection.

• A patent is generally recognized as the strongest form of IP protection, because the patent protects the process and method of the invention, regardless of how it looks.

• patent the patent holder to enjoy a period of 20 years, after which the public and each competitor can be used for economic benefits, on the other side of trade-secret holder can enjoy its exclusivity, even after 20 years and as long as I can keep the invention secret and confidential.

• One of the most beneficial aspects of the patent is that even if any competitor company develops products independently and randomly, which includes a patented concept, the patent proprietor may hurt new businesses, and kind benefits can be availed for trade secrets .

• Patents are not in danger of becoming public (at least for 20 years), while trade secrets are still at risk of becoming public. Accidental release, the departure of employees, and even compulsory disclosure (such as a list of ingredients on food packaging) may reveal trade-secret public.

• trade-secret proving to be most effective when a secret can not be reverse-engineered.

Sum-up: As a conclusion we can say that patents and trade secrets, both have their advantages and disadvantages depending on the type of patent, and other available criteria. Companies need to do meticulous analysis of both forms of IP forms for patent and trade secret and should choose what suits them most.