IP review
autumn
2016
Patent,
publish or
trade secret:
which is the right
path for you?
A well-structured IP policy that embraces
not only patents but also trade secrets and
publication can reduce risk and maximise
returns on investment in IP.
Innovative businesses are often faced with a dilemma over how best to protect
their new ideas within the confines of a limited budget for intellectual property
(IP). In an ideal world, a business would patent each and every commercially
important innovation, in order to protect new technologies from adoption by
competitors. In the real world though, resources are limited and tough decisions
have to be made over where those resources are deployed. These decisions,
if not managed properly, can lead to gaps in protection that can be exploited
by rivals. On the other hand, a well-structured IP policy that embraces not only
patents but also trade secrets and publication can reduce risk and maximise
returns on investment in IP. Here we look at the benefits and disadvantages of
patents, trade secrets and publication, and consider some of the technical and
commercial factors that could influence the choice of whether a new innovation
should be patented, published or maintained as a trade secret.
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