Both trade secrets and patents seek to encourage invention. However, a patent is granted upon the disclosure of an invention, whereas a trade secret aims to keep the invention confidential. Moreover, while the length of the term of a patent is finite a trade secret provides an unlimited term of protection. Advantageously, the subject matter of a trade secret is nearly unlimited and does not have the non-obvious requirement that a patentable invention must overcome. In order to achieve enforceable protection, a comprehensive set of policies and procedures needs to be adopted by a trade secret owner.
Our firm can help you evaluate the benefits and trade-offs of securing trade secrets and how your organization can best utilize the protections afforded by trade secrets. Once engaged, our firm can develop a tailored and detailed roadmap for implementing a trade secret protection strategy including among its chief goals developing and executing effective employee commitment, supplier and partnership agreements and policies.