You’re starting to get the idea these are really efficiency tools. The Hague Agreement allows users to save time and money by enabling them to easily and swiftly acquire design protection in multiple markets. Next slide. Now trade secrets, you’ve probably heard a lot about trade secrets. This is information that first has to have commercial value, not generally known and then you have to take reasonable steps to preserve the confidentiality, to preserve its secrecy. Next slide. So common uses are formula, think of Coke, the formula for Coke is probably the most famous formula but can also be manufacturing process which that’s obviously a big one but things people might not think about are things like business strategies, the customer lists. Obviously your design concepts and business management information so lots of uses for trade secrets, highly valuable intellectual property. The important thing is remembering what steps to take to protect it. Keep it secret, all right, here we got trade secrets versus patents. Usually there’s a trade-off if you have let’s say you make some new product. Often times what you’ve obviously if it’s new then nobody else knows about it so the question is a lot of times do you want to get a patent on what you’ve invented or do you want to keep it a secret? So there’s we have some ways to compare those. First of all a trade secret can be indefinite so the time period for protection as long as it’s not discovered could go on forever. With a patent you’ve got the 20-year term. If it’s a trade secret, it’s not registered or disclosed obviously otherwise it would defeat the purpose of being a trade secret whereas your patent is publicly disclosed.
You’re starting to get the idea these are really efficiency tools. The Hague Agreement allows users to save time and money by enabling them to easily and swiftly acquire design protection in multiple markets. Next slide. Now trade secrets, you’ve probably heard a lot about trade secrets. This is information that first has to have commercial value, not generally known and then you have to take reasonable steps to preserve the confidentiality, to preserve its secrecy. Next slide. So common uses are formula, think of Coke, the formula for Coke is probably the most famous formula but can also be manufacturing process which that’s obviously a big one but things people might not think about are things like business strategies, the customer lists. Obviously your design concepts and business management information so lots of uses for trade secrets, highly valuable intellectual property. The important thing is remembering what steps to take to protect it. Keep it secret, all right, here we got trade secrets versus patents. Usually there’s a trade-off if you have let’s say you make some new product. Often times what you’ve obviously if it’s new then nobody else knows about it so the question is a lot of times do you want to get a patent on what you’ve invented or do you want to keep it a secret? So there’s we have some ways to compare those. First of all a trade secret can be indefinite so the time period for protection as long as it’s not discovered could go on forever. With a patent you’ve got the 20-year term. If it’s a trade secret, it’s not registered or disclosed obviously otherwise it would defeat the purpose of being a trade secret whereas your patent is publicly disclosed.
WTM-Webinar-Managing-Challenges-Transcript.docx