Patent: Patent is another form of intellectual property law that provides certain exclusive rights to the inventors of new works, ideas, machines or anything of public use. While giving patent rights to the applicant there are a couple of things analyzed by the state and after it is satisfied that this product deserves the patent rights, the right is given to the owner. The right of patent gives exclusive rights to the owner and prevents other manufacturers to make, produce same products without the permission of the owner of the patented product.
Trademark: Trademark is a kind of intellectual property right that gives recognition to the products of a manufacturer or seller inimitably and gives the manufacturers or sellers exclusive rights in respect of their products. Trademark may be a unique symbol, unique word or a unique phrase that makes a particular product distinctive from products of other manufacturer or sellers. If a manufacturer makes the same shaped bottle as coca cola makes for their products and uses same color and taste, this is a breach of the trademark rights of the coca cola and coca cola can sue that manufacturer.
Trade secret: Trade secret is a set of very particular and secret information related to a business. In a throat cutting competition of today’s era concepts like trade secret are very important and required by business houses. Trade secret may include business strategies, manufacturing methods, sales and distribution techniques, details of clients etc. such secret information’s are meant to be used by the holder and any leak of such information may be treated as breach of confidence.
Work Cited
"PIPERS Patent Authority." piperpat. 30 September 2011 <http://www.piperpat.com/IPInformation/Introduction/WhatisaTrademark/tabid/90/Default.aspx>.
