Businesses often find themselves wondering whether to take the considerable step of applying for patent protection for their trade secrets.
So when should a patent be pursued? This inquiry often proves difficult. Patent applications become accessible to the public within 18 months, which means your once-secret, proprietary idea becomes public. This is often referred to as the trade off patentees make – in exchange for a 20-year monopoly on your invention and its equivalents, you permit the disclosure of your “secret.” The rationale behind this exchange is to encourage innovation and fair competition in the industry, and, as set forth in Article I, Section 8 of the U.S. Constitution, to “promote the progress of science.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]