Week 13 of 13: Trade Secret Protection Lessons from KFC, Listerine, and Life Is Good trademark, and Meet the Host with Wayne Carroll - “Leveraging INSPIRATION: The Inspired Patent Podcast - Intellectual Property Strategy for Startups & Small Busines

S13 W13 E49-52 Leveraging INSPIRATION: The Inspired Patent PodcastTM 

Wayne Carroll - “ Leveraging INSPIRATION: The Inspired Patent Podcast  - Intellectual Property Strategy for Startups & Small Business” 

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Week 13 of 13: Trade Secret Protection Lessons from KFC, Listerine, and Life Is Good trademark, and Meet the Host

1. Unlocking Trade Secrets: Listerine's Success Story
   
2.  KFC’s secret recipe - a lesson in protecting secrets
   
3. Life is Good trademark story, and trademarks for clothing brands
   
4. About the Host - Wayne Carroll Patent and Trademark Attorney
   

​S13 E49  Unlocking Trade Secrets: Listerine's Success Story

Did you know that trade secrets can be licensed indefinitely, surpassing the duration of patents or copyrights?

In 1881, Dr. Lawrence sold the secret Listerine formula to a company, securing a 10% share of gross sales. Fast forward to 1956, after paying a staggering $22 million, the company sued to halt further payments.
Understanding how intellectual property works is crucial for small business owners. Trade secrets can provide a competitive edge and long-term value if managed and protected effectively.

What You Need to Know:

• Trade secrets can be licensed without an expiration date, offering a lasting competitive advantage.
• The Listerine case exemplifies the significance of safeguarding trade secrets amidst changing circumstances.
• Patents and copyrights have limited durations, while trade secrets can endure for an extended period.

What You Need to Do

• Evaluate your business's intellectual property assets and identify potential trade secrets.
• Implement security measures to protect trade secrets from unauthorized disclosure.
• Consider the option of licensing trade secrets strategically, with appropriate legal agreements in place.

[TAKE ACTION] Take a proactive step today: Conduct an intellectual property audit for your business and prioritize trade secret protection.


HOST:
Wayne Carroll founded Inspired Idea Solutions Law Firm in 2013, an IP boutique law firm focused on helping small businesses with intellectual property. At Inspired Idea Solutions, we use a proven process for obtaining IP rights that focuses on aligning the business strategy of small business clients with their IP strategy. We help small businesses implement a strategy to ensure they own and leverage their intellectual property. We also have clear expectations with zero hidden fees.  

In addition to his legal work, Wayne is an Eagle Scout and actively volunteers with the Boy Scouts of America. He is also a proud father of six children and enjoys playing pickleball. Wayne's extensive experience and expertise in intellectual property law make him a highly respected attorney and a valuable asset to clients seeking protection for their intellectual property rights. Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn.  

Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property.

S13 E50  KFC’s secret recipe - a lesson in protecting secrets

KFC employs a multi-faceted approach to protect its trade secret recipe, ensuring its confidentiality and exclusivity. Here are some of the strategies they use:

• 1) Limited access: The KFC secret recipe is known by only a select few individuals within the company. 
• 2) Split ingredient processing: KFC divides the production process into separate components, with different suppliers handling various parts of the recipe. 
• 3) Limited recipe information: To maintain secrecy, KFC provides suppliers with only the necessary details required for ingredient production, keeping the full recipe undisclosed.
• 4) Strict confidentiality agreements: KFC requires employees and business partners with knowledge of the secret recipe to sign stringent non-disclosure agreements (NDAs).
• 5) Supplier contracts: KFC works closely with its suppliers and manufacturers, incorporating strict confidentiality provisions into their contracts. 
• 6) Internal controls: KFC implements robust security measures within its facilities to prevent unauthorized access to sensitive information. This includes restricted areas, surveillance systems, and digital security measures.
• 7) Continuous monitoring: KFC actively monitors its supply chain and production processes to detect any potential breaches or unauthorized disclosures. Regular audits help ensure compliance with confidentiality requirements.
• 8) Legal protection: KFC relies on intellectual property laws to safeguard its trade secret. 

By combining these protective measures, KFC strives to maintain the secrecy and exclusivity of their trade secret recipe, enabling them to preserve their unique flavor profile and competitive advantage in the fast-food industry.

Similarly, your company can follow this same pattern to protect your trade secrets.

1. First, you need to identify your secrets. What have you learned from years of doing business that is not known by others? Define what that is and the advantage that it gives you. 
2. Limit access to your secrets. Ensure that only those that need to know the secret have access to the secret. The more people that have access, the harder it is to keep it secure. 
3. Create a process that limits the need for people to have all the parts of the trade secret. KFC did this by using multiple vendors. Manufacturers use this strategy by having employees work on one sub-part without knowledge of the end product. 
4. Strict confidentiality - when you limit the people who have access to the trade secret, you can then have stronger agreements with the specific people that have that access. 
5. Internal Controls: Evaluate your security measures. Also, consider regular training and reminders regarding your security measure and what to do and NOT do with the trade secrets. 
6. Monitoring - Auditing, monitoring, and ensuring continued compliance are necessary. Check that the procedures for security are being followed. 
7. Legal protection - you will need to be prepared to act quickly if someone breaches a contract or takes action that might disclose your trade secrets.  

HOST: Wayne Carroll is a highly experienced intellectual property lawyer with over 15 years of experience. He holds a Juris Doctor degree with a concentration in Intellectual Property Law from Suffolk University Law School, as well as an undergraduate degree in Electronic Engineering Technology from DeVry University. Wayne is the CEO and Attorney at Inspired Idea Solutions, LLC, a firm he founded in 2013, where he specializes in patent strategy, patent prosecution, trademark strategy and registration, and copyright litigation.

Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn.  

Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property.




S13 E51  Life is Good trademark story, and trademarks for clothing brands

The LIFE IS GOOD trademark was started by brothers Albert and John Jacobs and was rejected several times by the trademark office before they finally obtained their trademark registration. In this podcast, we are going to explore how to use a trademark on clothing brands so that it will be accepted by the trademark office on the first try.

In 1994 Albert and John Jacobs started a clothing brand called LIFE IS GOOD. In Feb. of 1995 they applied for a trademark, which was rejected. 

In March of 1995, a LIFE IS GOOD Logo application was filed, but that one did not become a trademark. 

In March of 1996, another trademark was filed and this one finally became a trademark. 

I don’t know the exact reasons the first two were rejected, but it is common for clothing brands to be rejected because of how they use the brand. 

This episode has video content but video will not be required to understand. If you want to see the video find my podcast LEVERAGING INSPIRATION on YouTube and look for Episode 51. 

For trademark use on clothing, put the brand on the tag or the packaging. A brand on the clothing itself is not considered trademark use.

Use actual photos of your clothing with the tag or packaging that shows the brand.

Use the brand on your website where you sell the clothing as a brand at the top of the page.

Work with an attorney to ensure you are prepared to qualify for federal trademark protection.


HOST: Wayne Carroll is a highly experienced intellectual property lawyer with over 15 years of experience. He holds a Juris Doctor degree with a concentration in Intellectual Property Law from Suffolk University Law School, as well as an undergraduate degree in Electronic Engineering Technology from DeVry University. Wayne is the CEO and Attorney at Inspired Idea Solutions, LLC, a firm he founded in 2013, where he specializes in patent strategy, patent prosecution, trademark strategy and registration, and copyright litigation.

In addition to his legal work, Wayne is an Eagle Scout and actively volunteers with the Boy Scouts of America. He is also a proud father of six children and enjoys playing pickleball. Wayne's extensive experience and expertise in intellectual property law make him a highly respected attorney and a valuable asset to clients seeking protection for their intellectual property rights. Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn.  

Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property.



S13 E52 About the Host - Wayne Carroll Patent and Trademark Attorney

I was not breathing when I was born. I was sick a lot as a child. My health was a challenge, but I still loved the outdoors, camping, and Boy Scouts. I earned my eagle scout, and I still volunteer with Boy Scouts, now called Scouts BSA. 

I grew up in Colorado in a large family with 9 siblings

I was always fascinated by machines and how things work  - At 5 years old I went to Disney Land, and what interested me the most was an escalator that was under repair. I stopped to try to see how it worked, and my parents lost track of me.

I enjoyed math and science in school.

I earned a degree in Electronics Engineering Technology from DeVry in Phoenix Arizona.

First career - engineer in the semiconductor industry

Grandfather earned a Ph.D. in electronics and was an inventor - Bell Labs 
My father earned an MBA and my plan was to get an advanced degree like my father and grandfather.

Prayer - This was a matter of prayer for me, and learned a lesson about how to receive answers to my prayers.

Through prayer, I was guided to become a patent attorney.

Inspired Idea Solutions Law Firm was named based on my belief that great ideas come from a higher power. I help businesses with their inspired ideas so they can do the most good with their ideas.


HOST: Wayne Carroll founded Inspired Idea Solutions Law Firm in 2013, an IP boutique law firm focused on helping small businesses with intellectual property. At Inspired Idea Solutions, we use a proven process for obtaining IP rights that focuses on aligning the business strategy of small business clients with their IP strategy. We help small businesses implement a strategy to ensure they own and leverage their intellectual property. We also have clear expectations with zero hidden fees.  

Wayne can be reached at 480-741-2440 or Wayne@inspiredideasolutions.com. You can also connect with Wayne on LinkedIn.  

Schedule an appointment with Wayne Carroll for a strategy session on protecting and leveraging your intellectual property.