{"id":25,"date":"2020-08-18T13:29:46","date_gmt":"2020-08-18T12:29:46","guid":{"rendered":"https:\/\/www.mathys-squire.com\/scaleup-quarter\/trade-secrets\/"},"modified":"2021-08-19T17:23:08","modified_gmt":"2021-08-19T16:23:08","slug":"trade-secrets","status":"publish","type":"page","link":"https:\/\/www.mathys-squire.com\/scaleup-quarter\/trade-secrets\/","title":{"rendered":"Trade secrets"},"content":{"rendered":"\n
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Trade secrets<\/h2>\n\n\n\n

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Trade secrets or patents? How to develop your IP strategy<\/em><\/h1>\n\n\n\n

As a startup company, the ‘know-how’ and business information you have developed can be a vital asset to the success of your business, especially when that know-how relates to the particular product or process which is a cornerstone of your business. In protecting your IP, it is essential to determine which technical information should be included in a patent application and which might be better kept a trade secret.<\/p>\n\n\n\n

Trade secrets can remain in force indefinitely, provided they can be kept secret<\/strong>, and therefore can be a very powerful tool in maintaining your competitive advantage in the market. Some of the most successful trade secrets, such as the Coca-Cola\u00ae<\/sup> recipe, have clearly stood the test of time. However, attempting to protect the wrong information as a trade secret, such as products or processes which may be reverse engineered, can leave the door open for competitors to enter your market space.<\/p>\n\n\n\n

At Mathys & Squire, we have a large number of highly experienced patent attorneys operating within a wide range of technical fields who can advise you on what business information or know-how should be protected through a patent and which would be better kept as a trade secret.<\/p>\n\n\n\n

What other benefits can trade secrets provide?<\/strong><\/h4>\n\n\n\n

Licensing the particular information encompassed by the trade secret provisions can provide a useful source of additional revenue for your business and can improve the sustainability and growth of your company.<\/p>\n\n\n\n

How is information classed as a trade secret?<\/strong><\/h4>\n\n\n\n

In the UK, trade secrets are governed by The Trade Secrets Directive (2016\/244\/EU), which came into force in June 2018 for the purpose of harmonising the standards and protection of trade secrets across the EU.<\/p>\n\n\n\n

In accordance with the directive, a trade secret includes any information which: <\/p>\n\n\n\n