Many inventors decide that patents are a bad way to protect their intellectual property. Instead, they keep

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Many inventors decide that patents are a bad way to protect their intellectual property. Instead, they keep their ideas a secret. Trade secrets are actually quite common: The formula for Coca-Cola is a trade secret, as is Colonel Sander’s secret recipe. What is one major strength of keeping a trade secret rather than applying for a patent? What is a major weakness inherent in going down the trade secret route?
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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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