Intellectual Property Rights (IPRs) are the intangible assets
created by the human mind. The governments have taken immense steps
by creating legal frameworks to protect these assets through
various means intended for the benefit of the innovator for
disclosing his / her invention. This includes the offering of
monopoly to the innovator.
The widely accepted and known IPRs are patents, trademarks,
copyrights, and geographical indications, which are protected
through statutory laws. This blog discusses the relatively
lesser-known IPR, "Trade secret" and how it differs from
the Patents.
Trade Secrets:
The main aim of the IPR laws is to promote new technologies,
artistic expressions, and inventions while advancing economic
growth. However, it is always not feasible to protect the
company's inventions / intellectual assets through patents
alone. Trade Secrets are of great value in these circumstances and
offer to protect confidential information, which is classified
