The exchange for secrets theory Sample Clauses

The exchange for secrets theory. This theory presumes a bargain between an inventor and the society whereby the inventor surrenders the possession of secret knowledge in exchange for the protection of a temporary exclusivity in its industrial use. This is based on the presumption that industrial progress is desirable but can only be achieved if inventors reveal their secrets. This theory also tries to prevent over investment by companies in trade secrets to protect their inventions. “ In order to avoid the social waste that would come from over- investing in trade secrets, the exchange for secrets theory says that patent protection is an economically efficient alternative.”29 25 Ibid page 838. 00Xxxxxx Xxxxxx, Supra Note 20 page 19. 27 Ibid 28 Ibid 29 Xxxxxxx X’Xxxxx, supra note 22 page 19.
Sample 1
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