Trade Secrets

Trade Secrets

Trade secret may refer to a practice, process, design, instrument or a compilation of data or information relating to the business which is not generally known to the public and which the owner attempts to keep secret and confidential. Such data or information may also involve an economic interest of the owner in obtaining advantage over competitors.

Trade secrets, just as other intellectual property rights, are extremely valuable to a company’s growth and sometimes even critical for its survival. Organizations endeavor to protect their business processes, technical know-how and confidential information from competitors.

There is no specific legislation in India to protect trade secrets and confidential information. Nevertheless, Indian courts have upheld trade secr et protection on basis of principles of equity, and at times, upon a common law action of breach of confidence, which in effect may even amount to breach of contractual obligation.

The remedies available to the owner of trade secrets is to obtain an injunction to prevent someone from disclosing the trade secret, return of all confidential and proprietary information and compensation for any losses suffered due to unauthorized disclosure of trade secrets.

The firm assist and advises on:

  • Protecting sensitive and confidential information.
  • Implementing confidentiality policies and access control policies.
  • Executing non-disclosure agreements with employees, contractors, retainers, advisors, investors and other associates.