Intellectual and Property Law Essay Example | Topics and Well Written Essays - 2500 words

Intellectual and Property Law - Essay Example In USA, the Uniform Trade Secrets Act (UTSA) was enacted some twenty-five years back. (Dreyfuss et al 2011:113). Now, trade secrets can be justified as a guise not of customary property but of intellectual property. The incentive by way of IP protection to trade secrets is justifiable, mainly to offer a boost for new inventions. Offering legal protection for those new inventions not only promotes their creation, but also facilitates an inventor to cash his inventions by selling his new ideas to others. Through patent law, trade secrecy can be safeguarded as it is not only quicker but also cheaper to obtain patent over such business secrets as it extends safeguard to various varieties of business and manufacturing process information. Sometimes, court considers trade secret law as a common law tort instead of perusing the same under IP rights. Protection of trade secrets through IP promote pre-emption of â€Å" unjust enrichment â€Å" philosophies and other common law remedies that courts are enticed to offer the private parties legal control over information that is available in the public domain. In case of commercial scenarios, the cases of the breach of confidence most recurrently happen. It is to be noted that there exists a difference between a trade secret and just commercial â€Å"know-how.† It has been observed that mere know-how is not safeguarded under the law and to be safeguarded, it should be in the guise of a trade secret. Majority of the commercial know-how is no doubt having great value and hence, it is essential to keep it away from public dissemination. For instance, a chemical formula for a specific ingredient (for instance coca-cola) should be preserved under lock and key, which is known as the trade secret. Trade secret connotes information, including but not restricted to a pattern, formula, method, compilation, technique, programme or information or process embodied or contained in a product mechanism or devise which: may or is may be employed in a business or trade; b) is not normally recognised in that business or trade; c) has some economic value from not being generally be disclosed; d) Is adequate initiatives have been taken to maintain the secrecy under the scenario. (Sumpter 2006:100). Illustration of confidential information: Plans and Designs as held in Saltman v Campbell Swizzle sticks embellished with a cruise ship name where they are being widely used as held in Ackroyds (London ) Ltd v Islington Plastics Ltd1 A manufacturing process for establishing a confectionary as held in AB Consolidated v Europe Strength Food. Exhaustive information about assets, supplies, budgets, strategic planning and clients stored in computer files as held in Ravensdown Corp Ltd v Groves 2 Concepts and ideas gathered during negotiations in commercial opportunities as held in Pacifica Shipping Co Ltd v Andersen3 Disclosures made about the patented invention during the course of business negotiations as held in Seager v Copydex. Details stored about the requirements of clients and list of customers as held in Target Recruitment Services Ltd v Lewin4 Details of general information about the company which contains details about the products dealt with , chemical formulae , prices to be quoted in the tenders , budget forecasts and market information as held in AM Satterthwaite & Co Ltd v Gay 5 The genetic components of plant budwood that was stolen as held in Franklin v Giddins. If a new plant variety for which litigation is made is kept as secret or