In today’s era of globalization, companies use patent, copyright, design and trademark laws to protect their intellectual property (IP). These laws provide developed and efficient ways to protect IP. Due to the increasing demand for protection through patents, trademarks and copyrights, trade secrets seem like an endangered species.
A revamp of the law is urgently needed to provide protection for trade secrets, which are on the verge of extinction. This article discusses the all-round empowerment of trade secret protection in India and the need for a sui generis system for the protection of trade secrets.
What is a trade secret?
A trade secret is defined as a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable and which can give a business an economic advantage. A trade secret may be any information or any data that has been purposely treated as confidential and is capable of commercial application with a view to economic gain. Well known examples of trade secrets include the formulas or recipes for Coca-Cola, KFC’s chicken, McDonald’s “special sauce”, Krispy Kreme doughnuts, Google AdWords and Gillette razor designs.
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Manoj K Singh is the founding partner of Singh & Associates, a full-service international law firm with headquarters in New Delhi.
N-30, Malviya Nagar, New Delhi – 110 017, India
Tel: +91 11 4666 5000, 2668 7993, 2668 0331
Fax: +91 11 2668 2883, 4666 5001
Email: newdelhi@singhassociates.in
Website: www.singhassociates.in
