a) Trade secret- when the individual/organization owing an intellectual property does not disclose the property to any one and keeps it as a closely guarded secret to promote his business interests, it is called trade secret. Trade secret may relate to formulae, processes or materials.
The best guarded secret of the modern times concerns the formulation of Coca-Cola.
b) Patent- A patent is the right granted by a government to an inventor to exclude others from imitating, manufacturing, using or selling the invention in question for commercial use during the specified period. Patents are granted for (a) an invention (including a product) (b) innovation/ improvement in an invention. (c) the process/product of an invention (d) a concept.
A patent may be viewed as a contract between the society and the inventor wherein the inventor discloses his invention in return for the protection granted to him by the society to control the commercial aspects of his invention to the extent that it is not determinal to the society
c) Copyright- Certain intellectual properties are not patentable; they are protected by copyrights. The copyright is limited both in time and extent: it provides protection for a specified period, and only from reproduction as such of the copyright material either in total or in parts.
d) Plant variety protection- Many countries recognize plant varieties as an intellectual property and grant a protection to them through a patent or a suitable form of plant breeders rights (PBR).
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