Trade Secretes and Patents

 Trade secretes and patents are ways of protecting intellectual properties. Trade secretes and patents are used to protect business inventions such as formulas, designs, practices and processes in opposite ways. While trade secretes operate to conceal details about an invention, patents require details of an invention to be made open and clear to the public so that the business can be granted exclusive rights to them. Businesses have to make difficult decision on whether to use trade secrete strategy or patent strategies to protect their business’s intellectual properties (Erik, 2002).

The thesis statement of my research paper will be “trade secretes are the best way to protect a business invention”. The major topic of discussion under this research paper will be; what is a patent, what is a trade secrete, overview of companies that have used patent and trade secrete strategies, advantages and disadvantages of trade secrete and patent, non disclosure laws and contracts, non-compete laws, time of patent, reverse engineering, patent maintenance and patent terms. The argument for this research paper has been drawn from the article; Joseph H (1999), Patent or Trade Secrete: Which One is Best?, available at Http://www.hosteny.com /archive/hosteny%2008-00.pdf .

This article discusses both aspects of trade secretes and patent and gives advantages and disadvantages of both. Joseph (1999) is a business lawyer and gives accounts of laws cases that he has represented in court involving patents and trade secretes.  This article will form the background of my research paper by providing information about patent and trade secrets. The article will also provide brief information about advantages and disadvantages of both patent and trade secretes. Other article will also be consulted during the study.

Reference

Erik Heels (2002), Patent vs. Trade Secretes, retrieved on November 15, 2010, from Http://erikjheels.com/?p=156

Joseph H (1999), Patent or Trade Secrete: Which One is Best?, retrieved on November 15, 2010,from Http://www.hosteny.com/archive/hosteny%2008-00.pdf

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