What are trade secrets? Is that mode of protection suitable for me as an innovator?
The term ‘trade secret’ refers to any information developed by spending time and resources, which is unknown to competitors and the possession of which gives an advantage over such competition. One of the often quoted examples is the formula for the manufacture of Coca-Cola. The main advantage of trade secrets protection is that you don’t have to reveal the technical information to the public. But the same act as the major limitation for this type of protection, as this form of protection is suitable only for those innovations wherein you can hide the technical details.
