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Why Are Trade Secrets Important to the Survival of a Business?

  • By: Robert Klein

For decades, knowledge of Coca Cola’s secret ingredient has remained a mystery. Many people and companies have attempted to guess the secret ingredient, but to no avail. Some would argue that one of the reasons Classic Coke has been so successful is because no one can truly replicate it. Coca Cola’s secret ingredient is the perfect example of a trade secret, and something that makes for an interesting story.

Thirty years ago, Coca-Cola launched “New Coke”, which many people considered a disaster of epic proportions. For 99 years prior, the recipe that made Coca-Cola one of the largest soft drink companies in the world had never changed. Now, the company would reinvent its flagship-brand soda by introducing a new formula. Consumers hated it, and an outcry for “Classic Coke” ended up providing Coca-Cola with an enormous marketing opportunity if it reversed the change.

The reversal led to protests that mimicked small-scale political rallies, 1-800-GET-COKE was launched and Coca-Cola received thousands of calls a day to change back the formula.

What Happens When Trade Secrets Are Exposed?

The story shows us the importance of a trade secret. Classic Coke has a unique taste that gives it an identity to its consumers. If some imposter came along with the same list of ingredients, it could jeopardize the identity of Coca-Cola. Trade secrets allow a company to develop a unique following, and a product associated with a specific business.

When trade secrets are exposed, competitors can steal or alter ideas for profit. Working with an attorney who has experience defending businesses against the theft of trade secrets can help a company retain its identity and protect its future.

Klein Trial Lawyers – Trademark Infringement Attorney

Robert Klein

About the Author Attorney Robert Klein is a former CPA and known for
finding creative solutions to complex business lawsuits.