In engineering innovation and entrepreneurship, deciding whether to patent an invention requires balancing alternatives like trade secrets against key business considerations. This startup skills workshop overviews patenting vs trade secret pros/cons.

Key issues:

1. Trade Secrets vs. Patents: When to protect inventions secretly (e.g., Coca-Cola's formula) over patents, assessing reverse-engineering risks, enforcement, and non-compete clauses that may restrict disclosure or mobility.

2. Non-Compete Agreements: Identifying/negotiating covenants in contracts to avoid startup barriers, tying into IP choices like trade secrets that preserve flexibility without public disclosure.

3. Startup Patent Strategies: Balancing high costs, timelines, and risks—including invalidity challenges in district court and the Patent Office—through provisional filings and targeted IP portfolios to enhance investor valuation while minimizing exposure.