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How do I protect my design for a new invention?
My partner and I have designed a product that improves soil fertilization, and as far as we know, there’s nothing comparable out there. We hope to introduce our product to the market soon but are concerned about protecting its design from competitors. Also, if we take on additional employees, how do we keep them from passing on the design’s secret?
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Answers (1)
Since your product’s design is essential to your company’s viability, it is considered intellectual property and is therefore protected by trade secrets laws. In its broadest definition, a "trade secret" is any confidential business information that gives its holder a competitive edge. Unlike patent and trademark laws, which are federal statutes, trade secrets laws are enacted by state legislation. Interpretation of trade secret laws may vary from state to state, but the one constant interpretation is that in order for your information to be considered a "trade secret," it must meet the following criteria: it is not known to the general public; its secrecy confers an economic benefit on you as the holder; and it is subject to reasonable efforts by you to maintain its secrecy. In this case, you and your partner must take reasonable measures to protect your design’s secret, which may entail requiring other employees to sign non-compete or non-disclosure contracts. To find out more about trade secrets law and intellectual property in general, check with the World Intellectual Property Organization (WIPO) who maintains a detailed website. Also, you and your partner should consult with an intellectual property attorney to protect your business interests.
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Posted by Sharon Cullars on 21 Jan 2010
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