Question

When will trade secrets be more useful than patents, copyrights or trademarks? ( Write a complete answer with 7 or more sentences )

Answer 1

Trade secrets, patents, copyrights and trademarks are all part of family of Intellectual property rights. Each of these are used in different scenarios for variety of products and services. A trade secret is any kind of information/invention/discovery/innovation that allows the owner to make money because it is not revealed in public. Trade secrets are used for such cases where the invented or discovered cannot be easily protected. In other words trade secrets are more useful when they are easily replicated or discovered or invented. Trade secrets are used in case of formulas, methods or processes or facts that are gathered by a journalist or a researcher. All of them are easy to replicate or easy to manufacture, hence they cannot be patented or copyrighted, they must be kept as trade secrets. The example for trade secrets can be a recipe, specifically the recipe of coca cola is a trade secret. The coca cola has kept the recipe of its soft drinks as secret, because they can be easily copied.