There is no specific legislation which governs trade secrets. However, new provisions in the Unfair Competition Act have been added, which implement the EU Trade Secrets Directive (EU) 2016/943.
Membership in International Conventions
– Paris Convention, Stockholm Act.
– WTO's TRIPS Agreement, since January 1, 1995.
Definition: a trade secret means information which meets the following requirements: (1) it is secret, because it is not, as a body or in the precise configuration and assembly of its components, generally known among or readily accessible to persons within the circles that normally deal with the kind of information in question; (2) it has commercial value because it is secret; (3) it has been subject to reasonable steps under the circumstances, by the person lawfully in power of disposal of the information, to keep it secret.
Criteria for enforcement: other than fulfilling the legal requirements mentioned above to qualify as a trade secret, no further measures or protection needs to be put in place for the information to benefit from protection as a trade secret.
Assignment - licensing: possible.
Remedies for misappropriation: at the request of the trade secret holder, the court can order by way of an interim injunction any of the following provisional and precautionary measures against the alleged infringer: (1) the cessation of or, as the case may be, the prohibition of the use or disclosure of the trade secret on a provisional basis; (2) the prohibition of the production, offering, placing on the market or use of infringing goods, or the importation, export or storage of infringing goods for those purposes; (3) the seizure or delivery up of the suspected infringing goods, including imported goods, so as to prevent their entry into, or circulation on, the market. Further, a court decision taken on the merits can order the cessation of or the prohibition of the use or disclosure of the trade secret; removal; payment of appropriate remuneration; in case of fault payment of damages including lost profits; rendering of accounts if necessary; right of information; publication of judgement.