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Jim Duggan was interviewed about trade secrets for two articles that appeared in the August 22 issue of the Toledo Blade. One article was entitled "Policies and procedures help guard trade secrets." The Toledo area restaurant Tony Packo's considers a key family recipe for its hot dog sauce a trade secret. Jim said that recipes typically are not patented, because the patenting process requires detailed information about the recipe to be made public, and a patent only lasts 20 years. On the other hand, a trade secret lasts for as long as no one breaks ranks and reveals it. Jim said that you have to put measures in place to try to ensure those who know critical information will not disclose it, and that confidentiality agreements are the first step toward guarding trade secrets.
The other article was entitled "Secret sauce adds intrigue to Packo's family squabble." Knowledge and control of the secret recipe for Tony Packo's hot dog sauce might become a valuable asset in an ongoing dispute between descendants of Tony Packo, Sr., that is playing out in court. Jim said that the recipe certainly would be considered part of the company's assets. He further said that the value of the recipe could be determined a number of ways, such as gauging the revenue it brings in for a year or perhaps a few years.
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