WEBVTT

00:00.760 --> 00:01.840
Ever wondered what goes into

00:01.840 --> 00:03.240
Coca-Cola's secret recipe?

00:03.560 --> 00:05.000
Or Google's algorithm?

00:05.480 --> 00:06.919
Well, you'll probably never know

00:07.120 --> 00:08.759
because these are trade secrets.

00:09.720 --> 00:11.919
Companies of every size use trade secrets

00:11.919 --> 00:12.960
to get a competitive edge

00:12.960 --> 00:15.119
and protect their intellectual assets:

00:15.439 --> 00:16.679
industrial processes,

00:16.960 --> 00:17.920
strategic plans,

00:18.120 --> 00:19.000
customer data,

00:19.000 --> 00:19.719
and so on.

00:20.679 --> 00:22.199
Does that mean the fajitas recipe

00:22.199 --> 00:23.160
at your mother's restaurant

00:23.160 --> 00:25.920
qualifies for protection as a trade secret?

00:26.160 --> 00:26.960
Well, maybe.

00:27.480 --> 00:29.199
But she would have to take appropriate steps

00:29.199 --> 00:30.320
to keep it secret!

00:31.640 --> 00:34.039
Trade secrets are not limited in time,

00:34.039 --> 00:35.479
have no registration cost,

00:35.479 --> 00:37.280
and are effective immediately.

00:38.000 --> 00:39.320
But unlike patents,

00:39.320 --> 00:41.119
they may be used by others if discovered

00:41.600 --> 00:44.320
and are more difficult to enforce