Stealing, scheming, heroes, villains, action! You might think I’m talking about the new James Bond movie, but I’m actually talking about intellectual property!
When people hear the words “intellectual property” they may think of the traditional patents, copyrights, or trademarks. But most people might not realize that there is another kind of IP – trade secrets. I definitely fell into the “not knowing” category prior to working at an IP firm this past summer.
When most law students think of protecting an invention or technology, they immediately jump to patents, which is a type of IP granted by the government to protect inventions. However, trade secrets are also a type of intellectual property that can protect technology. And, trade secrets can sometimes be more useful – and valuable – than patents. As we will see, companies are increasingly turning to trade secrets as a means of protecting their intellectual property. Some of the biggest IP litigation cases in recent years have involved trade secrets. Almost every company uses trade secrets to protect information. A downside to trade secrets however, is that they are sometimes difficult to protect. Continue reading “The Benefits (and Difficulties) In Protecting Trade Secrets in a Digital Age”