Tanvi Bang, School of Law, Narsee Monjee Institute of Management Studies, Bengaluru
ABSTRACT
The purpose of this study was to investigate the intricate link between trade secrets and intellectual property rights, as well as to offer light on the problems, techniques, and legal issues involved in information protection. In today's corporate world, discretion is essential. A trade secret is a valuable type of intellectual property that comprises sensitive company knowledge that offers you a competitive advantage. Unlike patents, copyrights, and trademarks, trade secrets are typically secured by non-disclosure agreements and other commercial arrangements rather than registration with government bodies. This novel defence mechanism raises concerns about the synergy and potential conflict between trade secrets and traditional intellectual property rights. Trade secret protection is the safeguarding of sensitive or valuable company information against unauthorised disclosure or use by a rival. This topic overlaps with intellectual property (IP), however it is distinct from patents, copyrights, and trademarks. Building formulae, procedures, client lists, and marketing tactics are all examples of trade secrets. Trade secrets, unlike typical intellectual property rights, are founded on secrecy rather than public records. To preserve trade secrets, businesses must establish tight security measures, non-disclosure agreements, and containment agreements. Remedies for embezzlement are provided by legal frameworks such as the Uniform Trade Secrets Act. In today's competitive business world, it is critical to strike a balance between the need for innovation and competitiveness and the protection of trade secrets.
Keywords: Trade secrets, Intellectual property, Complex relationships, Uniform Trade Secrets Act, Corporate Discretion, Non-disclosure Agreements, Protection.
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