Patent vs. Trade Secret

Patent is the exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a limited period of time in exchange for detailed public disclosure of the invention. Most patents start off as trade secrets. Patents allow legal action against unauthorized use but are expensive and have a short life span. E.g. 3d printing was patented but now is publically available.

Trade secret is a process, method, plan, formula or other information unique to a manufacturer, which gives it an advantage over competitors. Trade secret law does not prohibit others from developing the secret information independently or learning it through reverse engineering. Maintaining trade secrets is free and can have a very long life span if properly kept, e.g. Coca Cola 120 years.