This week you learned about the many ways that individuals and companies can protect their intellectual property. Two of those ways are through trade secrets and patents. Both offer protection, but differ in several keys ways. For this week, answer both of the following questions regarding these two legal tools:

1. How can trade secrets be beneficial for a company?

2. What are the benefits of keeping something a trade secret instead of applying for a patent? What are the downsides to doing this?