Intellectual Property Rights (IPR) - Trade Secrets,Hybridizations,Biotechnology

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	Intellectual Property Rights (IPR) - Trade Secrets -Trade secrets, often include private proprietary information or physical material that allows a definite advantage to the owner. This can be illustrated by the popular example of Coca-Cola brand syrup formula. Trade secrets in the area of biotechnology may include material like (i) hybridization conditions, (ii) cell lines, (iii) corporate merchandising plans or (iv) customer lists. Unlike patents, trade secrets have an unlimited duration and, therefore, may not be required to satisfy the more difficult conditions laid down by law for patent applications.
Disclosure of a trade secret and its unauthorized use can be punished by the court and the owner may be allowed compensation. However, if a trade secret becomes public knowledge by independent discovery or other means, it is no longer protectable. However, due to large degree of research component in biotechnology, there is increased risk in maintaining trade secrets. The results are published and discussed in conferences and disclosed due to exchange of graduate students, thus making it difficult to maintain secrecy. Despite this, in some cases reliance on trade secrets is more prudent than the patents, which sometimes may become outdated before the patent is granted after the application is tiled (it takes about 2 years in USA ).