Example of a Patent

• Gillette has patented several of its shaving products. This gives them the exclusive right to manufacture these products for a specific period of time. After this time, others may manufacture the products in the identical fashion.
  
  

Example of a Trade Secret

• The Coca-Cola Co. has never disclosed all of the ingredients in its cola-flavored soda. In doing this, Coca-Cola ensures that no competitor can ever make the same product.
  
  

Length of Protection of a Patent

• A patent is protected by law for 20 years. After this time, anyone has the right to create products for product in the identical way.
  
  

Length of Protection of a Trade Secret

• A trade secret is protected from use by others indefinitely. As long as the holders of the trade secret do not disclose it, no one may ever duplicate it.
  
  

Interchangeability of Patents & Trade Secrets

• Trade secrets can become patents when the holder of the trade secret files the appropriate patent application with the government. A patent cannot become a trade secret, because patents are already public knowledge, and therefore cannot be secrets.