GEB 4365-2: Patent Alternatives
Patent Alternatives
Rebecca A. Miller
GEB 4365-2
Everest University Online
March 4, 2015
Explain how some companies use different strategies to protect their product with short life cycle from being copied by other international violators.
Companies sometimes avoid patenting a product with a short life cycle because it is more costly than using other strategies of protection. The product may have run its course before the patent is approve. The amount of time to get the product patented may interfere with the manpower it takes to market the product, thus making the patent a burden. This makes a need for alternatives to the patent.
One alternative to patenting a product is trade secrets. A trade secret is any business information which provided an enterprise a competitive edge. The unauthorized use said information by persons or an entity other than the holder is regarded as an unfair practice and a violation of the trade secret (World Intellectual Property Organization, 2015). Dissimilar to patents, state law administers the protection of trade secrets. Mostly all states has embraced a deviation of the …show more content…
Uniform Trade Secrets Act (UTSA).
The Uniform Trade Secrets Act ("UTSA") defines a trade secret as: information, including a formula, pattern, compilation, program, device, method, technique, or process, that derives independent economic value, actual or potential, from not being generally known to or readily ascertainable through appropriate means by other persons who might obtain economic value from its disclosure or use; and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy (Legal Information Institute, 2015).
Another significant benefit of trade secrets is that in several occasions it could be much simpler to declare liability for trade secret stealing than to establish patent infringement (Toren, 2014). Trade secrets are more viable when looking to protect your products with a short life cycle from being infringement by international
violators.
References
Legal Information Institute. (2015). Trade secret. Retrieved March 4, 2015, from https://www.law.cornell.edu/wex/trade_secret
Toren, P. J. (2014, December 9). Trade Secrets – A Viable Alternative to Patents. Retrieved March 4, 2015, from http://www.ipwatchdog.com/2014/12/09/trade-secrets-a-viable-alternative-to-patents/id=52554/ Wild, John J. & Wild, Kenneth L. (2014). International Business: The challenges of globalization, 7e. New Jersey: Prentice Hall.
World Intellectual Property Organization. (2015). What is a Trade Secret? Retrieved March 4, 2015, from http://www.wipo.int/sme/en/ip_business/trade_secrets/trade_secrets.htm
Rebecca A. Miller
GEB 4365-2
Everest University Online
March 4, 2015
Explain how some companies use different strategies to protect their product with short life cycle from being copied by other international violators.
Companies sometimes avoid patenting a product with a short life cycle because it is more costly than using other strategies of protection. The product may have run its course before the patent is approve. The amount of time to get the product patented may interfere with the manpower it takes to market the product, thus making the patent a burden. This makes a need for alternatives to the patent.
One alternative to patenting a product is trade secrets. A trade secret is any business information which provided an enterprise a competitive edge. The unauthorized use said information by persons or an entity other than the holder is regarded as an unfair practice and a violation of the trade secret (World Intellectual Property Organization, 2015). Dissimilar to patents, state law administers the protection of trade secrets. Mostly all states has embraced a deviation of the …show more content…
Uniform Trade Secrets Act (UTSA).
The Uniform Trade Secrets Act ("UTSA") defines a trade secret as: information, including a formula, pattern, compilation, program, device, method, technique, or process, that derives independent economic value, actual or potential, from not being generally known to or readily ascertainable through appropriate means by other persons who might obtain economic value from its disclosure or use; and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy (Legal Information Institute, 2015).
Another significant benefit of trade secrets is that in several occasions it could be much simpler to declare liability for trade secret stealing than to establish patent infringement (Toren, 2014). Trade secrets are more viable when looking to protect your products with a short life cycle from being infringement by international
violators.
References
Legal Information Institute. (2015). Trade secret. Retrieved March 4, 2015, from https://www.law.cornell.edu/wex/trade_secret
Toren, P. J. (2014, December 9). Trade Secrets – A Viable Alternative to Patents. Retrieved March 4, 2015, from http://www.ipwatchdog.com/2014/12/09/trade-secrets-a-viable-alternative-to-patents/id=52554/ Wild, John J. & Wild, Kenneth L. (2014). International Business: The challenges of globalization, 7e. New Jersey: Prentice Hall.
World Intellectual Property Organization. (2015). What is a Trade Secret? Retrieved March 4, 2015, from http://www.wipo.int/sme/en/ip_business/trade_secrets/trade_secrets.htm