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Please discuss the advantages of obtaining patents for Dr. X’s novel molecule in comparison to using...

Please discuss the advantages of obtaining patents for Dr. X’s novel molecule in comparison to using a trade secret strategy?

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ADVANTAGES OF OBTAINONG PATENTS FOR DR. X's NOVEL MOLECULE IN COMPARISON USING A TRADE SECRET STRATEGY.

A patent gives us the right to stop others from copying, manufacturing, selling or importing your invention without our permission.

we get protection for a pre-determined period, allowing us to keep competitors at bay.

we can then use our invention yourself.

patents last in general for up to 20 years, where as trade secret has the advantage of not being limited in time

patents may be high costs related to keeping the information confidential, where as trade secrets involve no registration costs.

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