Regarding difference between trade secret & patent

niceniksniceniks Member Posts: 11 ■□□□□□□□□□
can anyone plz guide what is difference between trade secret & patent?? i am little bit confuse because both are for resource only & copyright is for expression

Comments

  • cyberguyprcyberguypr Senior Member Mod Posts: 6,882 Mod
    Trade secrets are things that give the company a competitive advantage. Think Coca Cola or KFC's recipes. It could also be some proprietary algorithm or a specific process. If they fall in the wrong hands, game over.

    Patents are exclusive right granted by the government to an inventor. You provide tons of details on how you made it and in exchange you are guaranteed exclusivity for a period of time. No one else can make (legally) your same product, process, or technology.

    Since patents require disclosing details, companies keep trade secrets, well, secret, instead of disclosing how they make the product.
  • itsgonnahappenitsgonnahappen Member Posts: 95 ■■■□□□□□□□
    What he ^ said. I'd further add that a patent provides a monopoly to the holder in exchange for making the invention public.

    An example of a trade secret is the recipe to KFC chicken. If KFC wanted to patent their process, they would be forced to disclose their recipe. As a result, the business could lose a competitive advantage in the long term.
  • philz1982philz1982 Member Posts: 978
    Also, if released to the public domain it is no longer a trade secret. For example if someone posted Coca Cola's recipe to the web. Then it is no longer a trade secret. Although this can be a murky rule based on the country within in the release and consumption happen(ed).
  • niceniksniceniks Member Posts: 11 ■□□□□□□□□□
    thanks all for valuable reply.
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