According to a 2003 survey sponsored by the Intellectual Property Owners Association (IPO) on the strategic management of IP, patents are rarely seen as the panacea ip, but as a complement to other forms of intellectual property protection.16 Patents have limitations such as early publication, inventive feasibility and strict patentability requirements. Respondents see proprietary technology as an important source of competitive advantage, and a large majority of respondents (88%) Skills and knowledge have been cited as the most important spiritual good. Business secrets are therefore directly involved in the protection of proprietary skills and knowledge. Unlike patents, trade secrets are protected without registration, i.e. trade secrets do not require procedural formalities to protect them. A trade secret may be protected for an unlimited period of time, unless it is legally discovered or acquired by others and made available to the public. For these reasons, the protection of trade secrets may seem particularly attractive to some companies. However, there are certain conditions under which information can be considered a trade secret. Compliance with these conditions can be more difficult and costly than it is at first glance. (a) in the sense that it is secret that it is not, as an organ or in the exact configuration and assembly of its components, generally, accessible or easily accessible between persons in the environments that normally deal with the nature of the information in question; Certainly, the patent policy for promoting invention is not disturbed by the existence of another form of inducement to invention. In this respect, the two systems are not and will not be in conflict….
Trade secrecy and patent law have coexisted in this country for more than a hundred years. Each has a special role to play, and the service of one does not take the need for the other…. We conclude that extending the protection of trade secrets to clearly patentable inventions is not contrary to the patent policy of disclosure. i. Trade secrets cannot be disclosed to individuals because of their infidelity to the company. These cases illustrate the value of trade secrets and, more importantly, the benefits of marriage patents with trade secrets. In fact, these cases show that GE and Wyeth could have the best of both worlds by patenting their inventions while preserving their competitive advantage by keeping the details of the production secret. Was GE`s or Wyeth`s policy to rely on trade secrets in this way, or was Coca-Cola`s decision to keep its formula secret instead of patenting it reckless and negligent? It`s clear that it`s not.
This definition will most likely replace previous definitions. From 1996, the Economic Espionage Act (EEA), a federal law on criminal secrecy, gives the following definition: the term secret of business refers to information kept in the shadows and of commercial value. The World Trade Organization (WTO) treaties (General Trade and Customs Agreement (GATT) and the Agreement on Trade-Related Intellectual Property Rights (TRIPS) with 150 signatory countries protect trade secrets.