In Colorado, a trade secret is any confidential business information from which a company can profit. This information must be valuable and protected by reasonable measures to prevent disclosures. Unlike patents, trade secrets do not have a fixed time limit and can be protected indefinitely so long as they remain confidential.

Patents typically last 20 years from the filing date, meaning that after 20 years, anyone can use or sell the patented invention without permission.

Whether a patent or a trade secret is better for protecting your intellectual property depends on your invention and your business goals. Patents provide exclusive rights for 20 years but require public disclosure of the invention. Trade secrets offer indefinite protection so long as they remain secret. An intellectual property attorney can help you decide what options best suits your invention and business goals.