Need For Legislative Protection Of Trade Secrets

INTRODUCTION

The world today, as prophesized by Herbert McLuhan in the early 1960s, has become a global village. Borders and boundaries are mere representations of sovereign powers, and they pose little to no obstacles to trade and business. With the advent of jet engines and the internet and the deliberate efforts of nations to integrate their economies into the world economy, businesses are no longer exposed to just domestic competition, they are now also exposed to international competition.

The increased competitive business environment is perhaps the most relevant for India, the 3rd largest start-up ecosystem in the world, with over 50,000 start-ups.¹ Apart from start-ups, India is also home to over 1.26 million companies. In such a competitive environment, there are very thin margins that separate one business from the other. In most cases, companies have a single factor that sets their business apart from the rest and that is how they command a market for