Patent or Trade Secret? What Every Startup Founder Should Know
data-privacypatentstrade secretsStartups
When deciding between patenting an invention or keeping it as a trade secret, startup founders should consider several factors including the type of innovation, the competitive landscape, and the company's resources.
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When deciding between patenting an invention or keeping it as a trade secret, consider the nature of the innovation and its potential for reverse-engineering. Patents provide public disclosure in exchange for exclusive rights, while trade secrets rely on confidentiality. Startups should weigh the benefits of patent protection against the costs and consider their ability to maintain secrecy.
Key Takeaways
Patents offer exclusive rights for a limited time but require public disclosure
Trade secrets can last indefinitely if kept confidential, but offer no legal protection against independent development
Consider the innovation's potential for reverse-engineering when deciding between patent and trade secret
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