Abstract

This article provides a basic, step-by-step approach to the practice and management of patents and trade secrets. The significance of aggressive patent and trade secret protection to the economic well-being of a business or organization should not be underestimated. Patents and trade secrets are protected by securing rights to ideas and the application of ideas which have commercial worth. The grant of rights in patents and trade secrets is based on an appreciation of development, advancement, and invention that will stimulate innovation by advancing technology. Both patent and trade secret rights are supported by the policies and laws of the United States. This article provides a hands-on tool, including practice tips, check lists, and a compendium of basics on patent and trade secret management.