Summary of Trade Secret | Types of Trade Secret | Intellectual Property Rights | by Tanisha Gangrade
The video discusses trade secrets, their types, intellectual property rights, and methodologies to protect them. A trade secret is defined as confidential information that provides a competitive advantage to a company. Various types of information can be kept as trade secrets, such as financial data, technology, formulas, and customer lists. Examples of trade secrets include KFC's secret recipe and Coca-Cola's secret formula. The video explains how to protect trade secrets, such as keeping information in a bank vault and limiting access to a few individuals. Advantages of trade secrets include unlimited duration and worldwide protection. However, trade secrets can be costly to protect and do not protect against independent innovation. The video also addresses the limitations of trade secrets, such as clean room practices and reverse engineering. Additionally, the video touches on trade secret litigation and the Contract Act 1872, which outlines the legal framework for trade secrets in India. The speaker, Tanisha Gangrade, covers various aspects of trade secrets and provides insights into their importance and protection.
### Methodology
- Define trade secrets and their importance
- Identify types of information that can be kept as trade secrets
- Discuss examples of trade secrets in various industries
- Explain how to protect trade secrets, such as limiting access and using non-disclosure agreements
- Highlight the advantages and limitations of trade secrets
- Address trade secret litigation and the legal framework for trade secrets in India
### Speakers
- Tanisha Gangrade
Notable Quotes
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06:57
— « First of all, I told you that trade secret is very important, you have to tell it in the bank world or only to a few people. Okay, so this is a very costly process that we have to protect it from everyone, isn't it? It is always very costly.",
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