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Admonition To Members Of The Healthcare Industry: Don’t Give Trade Secret Protection The Short Shrift!

Roundtable Expert Witnesses Services for Litigators & Legal Professionals – Click her for more info. While traditionally healthcare businesses have tended to look to patent protection, it would behoove them to also think about trade secret protection to protect their valuable inventions. Given the financial strains on businesses from the COVID-19 pandemic, some businesses may find trade secret protection a cost-efficient alternative to the patent process. Trade secret enforcement also potentially can yield hundreds of millions, sometimes even over a billion, dollars for the trade secret holder.[1] Further, patent protection is not always available.[2] Potential Trade Secrets In The Healthcare Industry

While the definition may vary somewhat across jurisdictions, a trade secret generally is information that derives independent economic value from not being known; and is subject to reasonable efforts to maintain its secrecy.

In the healthcare industry, potential trade secrets include formulas or techniques to develop pharmaceuticals, biosimilars, drugs, vaccines, or medical devices; code for a medical technology software; testing results; and patient analyses.

An important category of potential trade secrets particular to the healthcare industry is negative research (also known as negative “know-how”). Negative research is information about what does not work. In the healthcare industry, substantial resources […]

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