In considering IP as such, one must appreciate the extent to which competition is preeminent in U.S. law. Ironically, some of the strongest evidence of its importance appears in IP cases. Thus, notwithstanding renewed or possibly expanded recognition of the value of IP in encouraging innovation, IP owners must understand that anything that prevents others from selling products or services will be limited and strictly scrutinized. From this perspective, patent, copyright and trade secret protection comprise one of two major branches of IP law. Based on a Constitutional provision, patents and copyrights are of limited duration and are governed almost exclusively by federal law.
Trade secrets are theoretically unlimited in duration and governed mostly by state law.