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

A trade secret and a patent are two ways to protect the intellectual property of a business. The primary difference between a trade secret and a patent is how the information is protected. A trade secret is an idea or legal concept used to protect private information from being revealed to the public. This information is usually kept confidential and shared only with trusted partners. Describing a trade secret requires a certain level of discretion and caution. In Maryland, trade secret law provides a broad definition of what is considered a trade secret, including trade secrets obtained from others or through a process, method, device, or device application that is not generally known or publicly available. On the other hand, a patent is a protection for an invention, which can be a product, process, or improvement of a product. It grants the patent holder exclusive rights to manufacture, sell, and license the invention. To obtain a patent, the invention must be novel, non-obvious, and useful. In Maryland, invention patents are granted and maintained by the United States Patent and Trademark Office. In conclusion, the primary difference between a trade secret and a patent is the type of protection they provide. Trade secrets protect confidential information, while patents protect inventions.

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