What is the difference between a trade secret and a patent?

A trade secret and a patent are two very different types of intellectual property (IP) protections used in business law in California. A trade secret is considered confidential business information that is not publicly available or known. This includes such things as customer lists, unique ingredients of products, or advertising strategies. Trade secrets can be protected in California by using confidentiality agreements, non-disclosure agreements, and trade secret laws. On the other hand, a patent protects an invention or creative idea. It is a type of legal document that is granted by the government to exclude others from making, using, or selling an inventor’s creation. Patents are a form of property that can be bought, sold, or licensed. To receive a patent from the U.S. Patent and Trademark Office, the invention must be novel, useful, and non-obvious. In summary, a trade secret is confidential business information that is not publicly available, and a patent is a legal document that protects an invention from being copied or used by others. Trade secrets are protected through confidentiality agreements and trade secret laws, while patents are publicly available documents that are granted by the government.

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