The equation y = tan inverse (cot x) + cot inverse (tan x) simplifies to y = 2arctan(cot(x)). By taking the tangent of both sides, it leads to the relationship tan(y/2) = cot(x). This results in the expression y = π(2k+1) - 2x, where k is an integer. Consequently, the derivative dy/dx is calculated to be -2.