Trade secrets: Managerial guidance for competitive advantage Case Solution & Answer

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This Case is aboutÂ INTELLECTUAL PROPERTY, STRATEGY

PUBLICATION DATE: November 15, 2015 PRODUCT #: BH702-HCB-ENG

While the scholars have explored the construct and aftermath of intellectual property, most research efforts have emphasized on patents as a medium of safeguarding a firm’s intellectual capital. Yet Hemphill (2004) proposed that trade secrets can affect the differentiation between failure and economic success of the company.

When trade secrets are argued, there’s the inclination to focus on the more well-known secrets which have received significant hype in the popular press (e.g., Coca Cola, KFC, McDonald’s). The research reported here participated in a historiographical method of getting and compiling an in depth look at various business trade secrets and elaborating on the tactical intention behind a lot of the secrecy attempts to deal with this deficit of trade secrets storytelling.

Trade secrets Managerial guidance for competitive advantage Case Solution

Merchandise and procedure secrets were seen to be utilized create consistent brand buying, help in differentiating services and products from competitive offerings to come up with favorable brand perceptions, and build market share. We propose that supervisors should routinely evaluate which assets are appropriate for product design, patent, brand, copyright, or trade secret status and work to defend the company’s intangible assets.