Plastic2Oil Inc (PTOI)

[Johnik]

MLM, there are many reasons why JBI, or any other company for that matter, would choose to protect intellectual property as a trade secret, rather than file for patent protection. You are a smart guy. I encourage you to check out a book at your local library on methods of protecting intellectual property rights.

To oversimplify: filing for patent protection would place the composition of the catalyst (or other property) in the public domain. In contrast, trade secrets, by their very nature, are concealed from the public. Indeed, the failure to take reasonable efforts to protect the trade secret from public disclosure deprives the owner of the intellectual property right.

While a recorded patent certainly provides the holder rights, such rights are not self-executing. It is frequently necessary to engage in costly and time-consuming litigation to enforce patent rights. There is an entire law practice devoted to this very issue. If the intellectual property at issue is easily duplicated or (perhaps more importantly) easily concealed, those costs can rise exponentially, particularly in today's global marketplace.

The Mission Impossible anecdote is amusing. But again, it is vital for any company (JBI included) to maintain the "secrecy" of a trade secret in order to protect rights in that asset.