![]() ![]() The application must also enable a person of “skill in the art” (similar background as the inventor) to make and use the invention. ![]() This application must disclose the scope of the invention, which must be patentable subject matter, new, non-obvious, and useful. To get a United States patent, an inventor must file an application with the United States Patent and Trademark Office (“USPTO”) that meets the patentability criteria. P atents require the inventor to disclose the technology to receive legal protection. How Are Trade Secrets Different Than Patents? “Coca-Cola Secret Recipe Vault” by brtinney is licensed under CC BY 2.0 While these measures may not completely prevent trade secret misappropriation, they may reduce its chances and demonstrate the “reasonable secrecy” element in a trade secret misappropriation claim (should a theft ever occur). Finally, companies may implement specific operating and training procedures that instruct employees on secrecy protocols. Companies may also use contracts to enforce secrecy, such as confidentiality, non-compete, and non-disclosure agreements (NDAs). This may also include encryption of shared information or company-issued portable devices. Companies can implement digital measures such as firewalls, strong passwords, and controls on employee access to certain networks or websites. For example, Coca-Cola keeps its recipe in a vault. So, how can companies protect their trade secrets? For starters, companies may use physical measures, such as placing the trade secret in a secure environment or limiting access to a select group of individuals. Examples of famous trade secrets are the Google algorithm, KFC’s original blend, and the criteria for the New York Times’ Best Seller List. If a trade secret passes this test, it could potentially last forever. The trade secret need not be used in a business, and does not need to be novel or complex. Trade secrets can be anything that provides an economic advantage over competitors, such as formulas, recipes, customer lists, business methods, pricing, and processes. However, there are certain criteria that must be met to have a “trade secret.” Generally, a trade secret must be information that (a) is not known or readily ascertained by competitors, (b) has economic value from being kept secret, and (c) is subject to reasonable secrecy. This is because trade secrets can cover almost any valuable information, do not require an application or any divulging of the information to the public, and can last forever (as long as it remains a secret). Trade secrets are a valuable form of intellectual property for companies. Let’s take a look at what exactly trade secrets are and how IP attorneys can help companies protect them. As we will see, trade secrets are a lot like toothpaste – once they’re out, they (often) can’t be put back in. While the trade secret thief received a harsh prison sentence and fine, the companies whose trade secrets were stolen lost the valuable secrecy of their information. In May 2022, a former Coca-Cola chemist received a 14-year prison sentence for stealing trade secrets. ![]() The difficulties in protecting trade secrets are exemplified by a re cent jury verdict from a federal trial court. “Colgate Toothpaste” by rjg329 is licensed under CC BY-NC-SA 2.0. A downside to trade secrets however, is that they are sometimes difficult to protect. Almost every company uses trade secrets to protect information. Some of the biggest IP litigation cases in recent years have involved trade secrets. As we will see, companies are increasingly turning to trade secrets as a means of protecting their intellectual property. And, trade secrets can sometimes be more useful – and valuable – than patents. However, trade secrets are also a type of intellectual property that can protect technology. ![]() When most law students think of protecting an invention or technology, they immediately jump to patents, which is a type of IP granted by the government to protect inventions. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |