Introduction
Trade Secret or Patents! What to choose between both? A Big
Confusion in the head of the company. The two have more differences
than similarities.
Patents give you the exclusive right to exclude others from
making, selling, using or importing a particular product or service
in exchange for full public disclosure of your invention. Whereas
Trade secrets are formulas, processes, or other business
information that derive their commercial value from being kept
secret, and that a company is making reasonable effort to keep
secret. One famous example: Google's search algorithm,
Coco-cola's secret ingredients.
Patents and Trade secrets are the only two forms of IP rights
that protect information. Patent protects patentable information
which can be patented and qualifies patentability criteria while
trade secrets can protect patentable information and any of the
other information which can add the economic value to the holder.
Therefore, the same
