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Patents and trade secrets are both ways to protect inventions, but are otherwise very different.
A patent is formally registered with the federal government, and the information is available to everyone ("patent" in this instance means "open"), but the inventor has the right to prevent anyone from using it without permission. Patents are normally good for 20 years.
A trade secret is not registered or revealed to anyone, and can be protected forever--or until someone figures it out by reverse-engineering or other means.
So if you patent your new widget, I can look at the plans and specifications but I can't do anything with them without your permission, for 20 years. But if you call your new widget a trade secret and I figure it out the following week, that's it: no more secret. That's why trade secrets are almost ridiculously closely guarded.
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Is trade secrets an intellectual property?
Unlike patents, trade secrets offer no period of exclusivity: if I figure out your trade secret, I can use it, fair and square.
What are the intellectual properties subject through copyright?
Copyright is a type of intellectual property. Other types are trademarks, patents, and trade secrets.
When was Trade Secrets - company - created?
Trade Secrets - company - was created in 1990.
What has the author Schuyler Duryee written?
Schuyler Duryee has written: 'Plain directions for securing patents, and the registration of trade-marks and labels' -- subject(s): Patents, Trademarks 'Plain directions for securing patents, and the registration of trade-marks and labels' -- subject(s): Patents, Trademarks
What has the author Dan Erlewine written?
Dan Erlewine has written: 'Trade Secrets (Trade Secrets)'
What are the ratings and certificates for Grand Designs Trade Secrets - 2007?
Grand Designs Trade Secrets - 2007 is rated/received certificates of: Australia:G
What does international marketing by licensing arrangements entail?
a firm offers the right to use its intangible assets (manufacturing process, trade secrets, patents, company name, trademarks, or other items of value) to a licensee in exchange for royalties or some other form of payment.
Are recipes public domain?
Sort of. The list of ingredients isn't considered copyrightable, but narrative descriptions and directions are, as well as images, and the thoughtful compilation into a cookbook. Because of this, some recipes are protected as patents or trade secrets, the most famous being the recipe for Coca Cola.
What is tangible personal property?
Tangible personal property includes anything you own that is not attached to real property (land or improvements to land) and that has a physical form.Intangible personal property includes other things without physical form, such as personal rights in intellectual property (patents, trademarks, trade secrets, etc) or vested rights in things you do not yet possess.
Is keeping trade secrets still ethical?
Sure.
What happens if you give trade secrets to another company?
The unauthorized disclosure (to anyone, let alone another company) is a violation of trust (fiduciary duty) that will get you slapped with a lawsuit for damages and possibly an injunction. The company that receives the trade secrets would be wise to return them before it too is sued. In addition. many states have adopted the Uniform Trade Secrets Act which makes divulging trade secrets a criminal offense.
Can recovery be sought for stolen trade secrets only if they were patented or copyrighted?
No; a charge of misappropriation of trade secrets only requires that the information was subject to reasonable efforts to maintain its secrecy.
