TRADE SECRETS

Submitted by :-Gayathri Venugopal Batch :- S2 MBA Bishop Jerome Institute

INTELLECTAL PROPERY RIGHTS INCLUDES COPYRIGHT TRADE MARK GEOGRAPHICAL INDICATIONS TRADE SECRETS PATENTS

WHAT IS A TRADE SECRET? A trade secret may consist of any formula,

pattern, device or compilation of information which is used in a business, and which may give an advantage over competitors who do not know the trade secret.

TRADE SECRET PROTECTION

Trade secret protection is concerned with, Owners of trade secrets seek to protect trade secret

information from competitors by instituting special procedures for handling it,as well as technological and legalsecurity measures.

Legal protections include non-disclosure agreements (NDA) andnon-compete clauses.

EXAMPLES OF POTENTIAL TRADE SECRETS a formula for a sports drink. survey methods used by professional pollsters. Recipes. marketing strategies. manufacturing techniques. computer algorithms.

WAYS TO PROTECT TRADE SECRETS Restrict access to the information (lock it away in a

secure place, such as a bank vault). Limit the number of people who know the

information. Have the people who know the trade secret agree in

writing not to disclose the information (sign non-disclosure agreements).

Have anyone that comes in contact with the trade secret, directly or indirectly, sign non-disclosure agreements.

Mark any written material pertaining to the trade secret as proprietary.

FAMOUS TRADE SECRETS Formula for Coca-Cola The Big Mac Special

Sauce

KFC Chicken Recipe WD-40 Formula

EXAMPLES Decades ago, Coca-Cola decided to keep its soft drink formula a secret. The formula is only know to a few people within the company. Kept in the vault of a bank in Atlanta, Georgia. Those who know the secret formula have signed non-disclosure agreements. It is rumored that they are not allowed to travel together. If it had patented its formula,the whole world would be making Coca-Cola.

EXAMPLES Kentucky fried chicken

The secret recipe of “11 herbs and spices” lies in a bank vault.

Few people know it, and they are contractually obligated to secrecy.

The ingredients are mixed by two different companies in two different locations and then combined elsewhere in a third, separate location. To mix the final formula, a computer processing system is used to blend the mixtures together and ensure that no one outside KFC has the complete recipe

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