Inspired Patent Radio Show #13 - Unlocking the Power of Trade Secrets & Trademarks: Practical Strategies from Iconic Brands

Ever wonder how a 19th-century mouthwash formula still generates royalties today? Dive into Listerine’s century-long trade secret contract—a masterclass in the profit power and pitfalls of trade secrets.

Key Takeaways: 

• Trade secrets can be licensed indefinitely—outlasting patents and copyrights—if the contract allows. 

• Clear contracts are critical; ambiguous terms around end dates or contingencies can lead to expensive disputes. 

• For modern businesses, identifying and documenting your trade secrets is essential, especially as labor laws evolve.

Step beyond the vault and fried chicken folklore to discover KFC’s real-life tactics for keeping the Colonel’s secret recipe locked down for generations.

Key Takeaways: 

• Practical security measures—like compartmentalizing information and restricting access—are as important as legal agreements. 

• Regular audits, robust internal controls, and strict confidentiality contracts are vital in safeguarding high-value trade secrets. 

• Protecting your secrets isn’t just for fast-food giants; small businesses can adopt scalable versions of these tactics for their own crown jewels.

Why do so many clothing brands fumble trademark applications? The Life is Good story reveals hard-won lessons about how (and how not) to protect your brand on apparel.

Key Takeaways: 

• Trademark protection for clothing brands requires correct use (e.g., hang tags and labels) to prove brand, not just design, in your application. 

• Consistency is key: discrepancies between your registration and real-world use can stall or sink your application. 

• Don’t DIY without a plan—expert guidance helps avoid costly missteps, especially for small businesses where the stakes are higher.

Get to know Wayne Carroll as he shares his journey from curious kid tinkering with machines to trusted patent attorney helping inventors turn ideas into reality.

Key Takeaways: 

• The right guidance—through mentorship, business coaching, or legal counsel—is often the difference between stumbling blocks and success. 

• Entrepreneurship is a learning process: persistence, adaptability, and the willingness to seek help are foundational. 

• Protecting inspiration is about striking the right balance between practical business goals and safeguarding what makes your company unique.