Trademarks and trade secrets sound similar and yet they mean something very far apart from each...

Trademarks and trade secrets sound similar and yet they mean something very far apart from
each other. Similarly, copyrights and patents may sound so different and yet they may have
similarities between them” Critically analyze the above statement augmenting your answer
with tangible examples.

Solutions

Expert Solution

Trade Marks & Trade Secrets are poles apart and so similarly Copyrights & Patents.

Trade Marks : are used for identification and differentiation. For example 'G' for Google products & services. It can also be word or a logo. Trade Marks have financial values and is treated as assets in conventional accounting. One has to apply and get it registered. They are sold and traded for realisation of goodwill in some cases. There presence is also seen in the bill, banners and promotional campaign of a concern. Unsolicited usage of trades marks may attract penalties.

Trade Secret: are tactics of making or running a business profitably. Example Coke has its formula of making cold drinks and is a trade secret.

Patent: if you have an idea and that converts into realisation of benefit. If you invent something new that is purely yours and is not copied from anywhere you are eligible to get a Patent of that product or service. It will be for your usage solely and nobody can use it without your permission.

Copyright: is mainly for writer, philosopher, book or novel or story makers and writers. As it is generated out of their literacy skills it become eligible for copy right. This restricts others from reproducing similar creative literature work without consent. These are strict laws tobsafe gaurd the interest of writers etc and their highly creative work.

Rahul Sunny answered 1 year ago

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