Question

Differentiate between the patent and trade secret and how trade secret can be protected and briefly elaborate the classifications of trade mark (8)

Answer 1

Here is the answer for your question.

Differences betweeen patent and trade secret:-

Patent is a right which is granted to an inventor by an authority. The patent right provides the complete rights on the invention to the person who invented it. It also includes design, process etc.

Trade secret is a secret process, design, formulas and methods which gives financial advantage to the company over the other competetors

Patent	Tade secret
This right protects new inventions.	It protects secret information.
It protects from others copying its invention .	It protects from misusing the appropriate information.
The patent right can be provided to an invention of a device, structure or machine.	It includes the secret of process , method, Technique.
Is provided for two to three years .	It is maintained as long as the business owner willing to maintain as the secret.

Trade secret can be protected in the following ways:-

- Disclosing the information only to the trust worthy people.

- Limiting the access of company to the people.

- Updating the employee policies.

- Implementing the strict laws which protects the confidentiality.

- Asking the employees to return the trade secret materials before they leave company.

- Providing good security and monitoring.

- Not displosing any valuable information to the vendors.

- Using the systems which has good protection firewalls.

- Protecting all the documents, materials which contains sensitive information.

  

Elaborating the classification of trade mark:-

- Suggestive mark

The luxuary car brand BMW is the best example for the suggestive mark.

- Discriptive mark.

The advertising , sales and marketing of a company are the best examples of Discriptive mark.

- Generic mark.

Star bucks coffee shop is the best example for the Generic mark.

- Figurative Trade mark

Consist of a symbol with words. Logo is the best example for figurative trade mark..

Other types of trade marks are

- Pattern mark.

- Hologram mark.

- Sound mark.

- word mark.

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