Coca-Cola's formula for its sugary sweet soda is under lock and key, guarded by Coke as a trade secret. Now, Ohio State and Coke say that parts of the exclusive contract between the beverage giant and OSU, which was renewed in 2008, are also trade secrets and should be kept from public view, even though contracts at comparable universities are not.
OSU's current contract is worth at least $33.95 million, said Jim Lynch, director of Media Relations. Payments made to OSU from Coke come from royalty fees and vending commissions on Coke products sold on campus. In exchange, Coke receives the exclusive right to sell its products on campus as well as sponsorship opportunities and the ability to use OSU trademarks in Coca-Cola advertising.
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