Itronics Inc (ITRO)

[kex0414]

There are 4 problematic issues with Itronics: Trade Secrets; Awards; Recycling Competition; Ifix and other secondary and tertiary impediments. I have an early appointment tomorrow, so I will only cover "Trade Secrets".

Trade Secrets vs. Patents
Before reviewing the differences, it helps to understand what each type of protection entails. Trade secrets protect information, processes, products or other concepts that are not disclosed to the general public, while a product or invention must be fully disclosed to the US Patent and Trademark Office (USPTO) in order to be eligible for a patent.

This is the main factor that separates trade secrets and patents. If your business advantage or strategy is dependent upon keeping the confidentiality of your information or processes, then a trade secret may be an appropriate type of protection.

If you plan on distributing or selling your invention, a patent would offer the best level of protection. Each inventor or business has a different strategy: Coca-Cola keeps their product protected with a trade secret, while a business like Apple must patent their technology in order to prevent competitors from duplicating their products.

From Court's decision

“It is well recognized that a trade secret does not offer protection against discovery by fair and honest means such as by independent invention, accidental disclosure, or by so-called reverse engineering, that is, starting with the known product and working backward to divine the process....

While Patents are covered under Federal Law, Trade Secrets are generally under State jurisdiction.

Anyone who puts a product into commerce who relies on "Trade Secret" rather than "Patent rights" is just plain crazy or stupid.