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Patents vs. Trade Secrets: Which Promotes Innovation Better?

November 7th, 2014
MMM Tech Law Video Channel

by John R. HarrisMorris, Manning & Martin, LLP patent-or-trade-secret-2

The patent system has been criticized as not actually promoting innovation.  Aside from the fact that the patent system is embedded in the U.S. Constitution (Article 1, Section 8) and cannot be readily eliminated, there is recent evidence that perhaps the Founding Fathers were on to something in creating a system to “promote the progress of science and useful arts” with a patent system.

Patents and trade secrets are two very different forms of intellectual property (IP) protection.  Patents (the word means, in Latin,

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