Directive for the protection of trade secrets in the European Union

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Last week the European Parliament has approved the text of a proposed Directive for the protection of trade secrets in the European Union.  Once approved by the European Council, the Directive will be binding on all EU member states and will require member states to enact national legislation that meets certain minimum requirements for the protection of trade secrets.

The directive introduces an EU-wide definition of “trade secret”, meaning information which is secret, has commercial value because it is secret, and has been subject to reasonable steps to keep it secret.

Furthermore, it would oblige EU member states to ensure that victims of misuse of trade secrets are able to defend their rights in court and to seek compensation.

The approved text of the Directive is available here.