While some argue that a patent may protect their invention, others believe that hiding it is more effective.
For example, in 1876, Alexander Graham Bell patented the telephone under Patent No. 174,465.
According to the Harvard Business Review, Bell?s patent is now the most valuable in history.
Compare that to ten years later, when Dr. John Pemberton decided to forgo a patent and instead create what would become the world?s most famous trade secret: the Coca-Cola formula.
Dr. Pemberton knew that creating a patent would only give his company twenty years of exclusive rights to their formula.
300words: What are the benefits of trade secrets over patents?However, while a trade secret technically lasts forever, it is a risky way of protecting an invention. For budding entrepreneurs, it is essential to know the options you have when it comes to protecting your intellectual property. Not all protections are the same, and some may be better than others.
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