Is that really the case in the last few years/decades?
My understanding is that any company that can (read: has enough money for good lawyers), will prefer to use trade secrets for a combination of reasons, a big one being that competitors cannot use that technology after 10 years/when the patent expires.
Admittedly this was from my entrepreneurship classes in a European uni, so I'm not sure how it is in different places in the world.
Patents in the US are 20 years. Given how short sighted modern companies are, I can’t imagine anyone at any large company is even planning for something 20 years in the future, much less placing much value in an outcome that far out.
My understanding is that any company that can (read: has enough money for good lawyers), will prefer to use trade secrets for a combination of reasons, a big one being that competitors cannot use that technology after 10 years/when the patent expires.
Admittedly this was from my entrepreneurship classes in a European uni, so I'm not sure how it is in different places in the world.