Trade Secret Laws: Need Of An Hour

"Trade secret protection directly addresses the appropriability problem by limiting contracting parties use and dissemination of proprietary information, thereby enhancing incentives to produce valuable information.[i]"

When we see the Indian laws there are no such legislations with regard to the same but this concept has been widely discussed around the world. India tried to resolve the protection of Trade secret in a joint statement made in 2015 in the Trade Policy Forum with the United States.[ii] On the 12^th May 2016, the Union Cabinet approved the NIPR Policy (National Intellectual Property Rights) which basically focused on the upcoming growths of the ideas, innovation and technologies. India have recognised major forms of IPR like copyrights, patents, trademarks etc. but has some where lacked to recognise the concept of Trade secrets, they have no statutory recognition. The issues or the problems related to trade secrets in India are being resolved using the