Progress Made On The Trade Secrets Directive

On 15 December 2015, Members of the European Parliament (MEPs) came to a preliminary agreement over new rules against the theft or misuse of trade secrets. The rules, which are set out in the draft Trade Secrets Directive, aim to address inconsistent national laws and deter the unlawful acquisition, use and disclosure of know-how and business information.

The draft Directive:

• Lays down an EU-wide definition of trade secrets.
• Sets out common measures against the unlawful acquisition, use and disclosure of trade secrets. Such measures include the removal of goods from the market that have been manufactured on the basis of a trade secret that was illegally acquired.
• Entitles trade secret holders to claim compensation for damages caused by misappropriation of a trade secret.