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

The difference between a patent and a trade secret in Michigan is important to understand. A patent is a set of exclusive rights granted by the government to an inventor or creator of a new invention. This patent gives the inventor or creator the right to exclusively make, use, and sell the invention for a certain period of time. In Michigan, patents are issued by the United States Patent and Trademark Office (USPTO). A trade secret is a form of intellectual property that is a piece of information that is not publicly known and is kept secret by the company. Trade secrets are not registered and, as such, do not need to be disclosed. In Michigan, trade secrets are governed by the Uniform Trade Secrets Act. A trade secret can be an idea, process, formula, recipe, or plan that is kept secret to give a company an advantage over its competitors. The main difference between a patent and a trade secret is that a patent gives the inventor or creator legal protection that can be enforced through the courts, while a trade secret is kept secret to give the company an advantage. A patent is public, and information about the invention is disclosed when it is filed, while a trade secret is kept secret to maintain the advantage of the company. Furthermore, while trade secrets have a much longer duration, a patent is only valid for a limited amount of time.

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