Page 57 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Entrepreneurship and Small Business Management

Notes

Caselet Coca-Cola moves ‘secret formula’ to new vault in
Atlanta

Since its creation 125 years ago, Coca-Cola has kept its formula a
jealously guarded trade secret.

Coca-Cola has moved the “secret formula” for its international brand-name
soft drink to an impressively high security-looking vault in Atlanta.
On Thursday, the company released photos of the formula’s new home as
part of a promotional campaign for its shrine-like World of Coca-Cola
museum, where the recipe is now entombed in a massive steel vault.
Since its creation 125 years ago, Coca-Cola has kept its formula a jealously
guarded trade secret, spinning elaborate marketing mythologies about the
ingredients and the people who know them.
For example, until this week, the only official written copy was supposedly held under
lock and key in a bank vault. Only two people at any given time are supposed to know the
secret formula. And the same two people are prohibited from taking the same plane in the
event it crashes and the trade secrets are taken to the grave.
According to Beverage Digest, the secret formula was moved from a SunTrust bank vault
in Atlanta.

Earlier this year, weekly radio show “This American Life” out of Chicago, claimed it had
decoded the recipe after finding the original recipe buried quietly in the back pages of the
Atlanta Journal-Constitution circa 1979 — a publication dedicated to the birthplace of this
caramel-colored soda pop. Among the purported secret ingredients are coriander, nutmeg,
orange and lemon oils.
Source: http://www.nydailynews.com/life-style/eats/coca-cola-moves-secret-formula-new-vault-
atlanta-article-1.989170

4.1.4 Patents

Patent Right varies from country to country. In India the law which govern patent right is
“Indian Patent Act 1970”. Indian Patent Act, 1970 grants exclusive right to the inventor for his
invention for limited period of time. Generally 20 years time has been granted to the patent
holder but in case of inventions relating to manufacturing of food or drugs or medicine it is for
seven years from the date of patent. There is certain legal procedure which needs to be followed
in order to register. There are several attorney helping inventor in patent registration by
providing them best well informed knowledge. In India patent registration can be filed
individually or jointly. In case of deceased inventor this can be done his legal representative on
behalf of him. All the required documents need to be filed along with the application form. Only
after verification registration certificate is provided to the applicant.

Patent Law in India

The entire patent system and the patent law in India are governed by the superintendence of
General Controller of designs patients, trademark patent and by geographical indications. This
office of general controller runs under department of industrial promotions and policy. There

52 LOVELY PROFESSIONAL UNIVERSITY