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Is A Trade Secret a Sufficient Protection?

I have a doubt regarding strategy management of IP asset on which I would really appreciate your thoughts. Suppose, there is a start up in chemical field, they have a few products and they want to keep the recipe as trade secret (and not file it as a patent application). There is another start up who works with similar products and have filed for patent application. Now, my doubt is, what options does the first start up have to defend its position in market? Whether they should keep marketing their products? Or they should take some action against the second start up. But again, I am.not sure if they have many options in the later case. For this case, both the start up are in same jurisdiction. Thank you

Your question is a stepstone for a deep IP Strategy evaluation. I can tell you how that is dealt with in practice, but there are quite a few aspects that have to be taken into account. Aspects that co ... [read more]