In a globalised world, intellectual property rights assume significance and are a source of litigation. Broadly distinguish between the terms – copyrights, patents and trade secrets.

Copyrights

Copyrights are legal protections granted to the creators of original works, granting them exclusive rights to control the use and distribution of their creations. They primarily cover artistic and creative expressions such as literary works, music, films, software code, and visual arts. Some examples include:

• A novelist who holds the copyright to their book can prevent others from reproducing or distributing their work without permission.
• A musician who has a copyright on their song can control its public performance, reproduction, and distribution.
• A filmmaker who owns the copyright to a movie can prevent unauthorized screenings or copying.

Patents

Patents are exclusive rights granted to inventors for their new inventions or discoveries. They provide a monopoly over the invention for a limited time, typically 20 years from the filing date. Patents protect the functional aspects of inventions, including processes, machines, compositions of matter, and new technology. Examples of patentable inventions include:

• A new type of engine design that improves fuel efficiency in automobiles.
• A novel drug formulation or medical device that offers unique therapeutic benefits.
• A groundbreaking algorithm or software system that solves a specific problem.

Trade Secrets

Trade secrets are confidential business information that provides a competitive advantage to a company. Unlike copyrights and patents, trade secrets do not require registration with any government authority. Instead, they rely on maintaining secrecy and implementing reasonable measures to protect their confidentiality. Examples of trade secrets include:

• The Coca-Cola Company’s recipe for its soft drink, which is kept as a closely guarded secret.
• The secret formula for a popular skincare product that sets it apart from competitors.
• Proprietary manufacturing processes or techniques used by a company to produce a specific product.

Trade secrets protect information as long as it remains a secret, whereas copyrights and patents provide exclusive rights for a limited period, even if the information becomes public knowledge.