Gaining the competitive edge: Patents versus trade secrets

The area of intellectual property encompasses patents, copyrights, trademarks, and trade secrets. Each of these methods for protecting intangible property rights comes with distinctive features and advantages. With the rapid growth of technology, many businesses have come up with inventions aimed at giving them a competitive edge. With these inventions comes the risk of having commercially valuable information misappropriated by competitors. To counter this risk, businesses should deploy the avenues available in law in Namibia to protect their interests and enforce their rights. Should the company reveal its IP to the world and obtain a patent that will cover its IP for a limited period? Or should the business keep the IP secret forever and shield it by trade secret laws? Choosing the best avenue can pose a dilemma for businesses, which have to decide between patent and trade secrets as a means of protecting their IP . This article explores the benefits of trade...