Or if it had been patented, if it was a unique combination of things.
So, recipes don't really qualify for copyright, trademark, or
patent protection and yet the company needs to protect this asset.
So, if you can't copyright or patent something, you have to keep it secret.
And the upside is is that as long as you can keep that thing secret and
as long as it retains value, you have that edge.
So keeping a trade secret is really important, how do you do that?
Well, you should probably use something like a nondisclosure agreement or an NDA.
Employees need to be confidential about the kinds of things, but even then,
right, all it takes is one disgruntled employee to release the information and
suddenly it's no longer a trade secret.
So, maybe even beyond that, you need to limit the number of employees who
have clearance or access or the ability to even see those things.
You may resort to things like passwords, cabinet locks, access codes, different
ways that you can sort of keep a thing out of reach of people who might be curious.
So now you've had an opportunity to get a little bit familiar with variety of
intellectual property rights protection mechanisms.
So we're gonna talk a little bit more about how do you
make value out of those things.
I'll see you on the next video.
[MUSIC]