Law Commission Proposes A Draft Bill On Trade Secrets For India

Introduction

Trade secrets are a form of intellectual property (IP) that usually refers to some type of commercially valuable data, information or knowhow relating to a business, which is not known to the public and has been subject to reasonable efforts by its owner to keep it secret. Article 39 of the Trade Related Aspects of Intellectual Property Rights (TRIPS) Agreement mandates every member state to protect trade secrets, but India, like most members of TRIPS, has not yet adopted any stringent measures to tackle the subject. In the absence of specific legislation, trade secrets are protected through contract, common, and criminal law principles, as well as principles of breach of confidence and equity.