What is difference and the pros and cons of each approach

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Question: Staff FROM: Dr. S. Patel, Director of Research RE: New Product As you know, we have been working very hard to develop our revolutionary new mouthwash product. While I believe it is so unique that it will never be duplicated, I am worried that the formula might be discovered by competitors who can produce it cheaper than us or better job marketing it. Since I am not familiar with the laws of this country that might affect our ability to protect our formula, please tell me how we might protect our investment in this product. Is there more than one way to next action? I've heard obtaining a patent might be the way to go. On the other hand my colleagues mentioned that treating the formula as trade secret might be better. What is the difference and the pros and cons of each approach? Please advise.

Reference no: EM133394662

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