Unauthorised Acquisition of Trade Secrets and Innovation

Trade secrets are confidential information, not generally known among, or accessible to the persons in the relevant business sector. They are commercially valuable. In principle, unauthorised acquisition, use or disclosure of a trade secret by others in a manner contrary to honest commercial practices is considered misappropriation of the trade secret.

When patented inventions or trademarks are used without authorization of their owners, the words “patent infringement” or “trademark infringement” are used. When trade secret information is used without authorisation of the trade secret holder, this is called “misappropriation.

Exporters and manufacturers invest lots of time, effort and money in finding customers and developing products to meet the developing products to meet the requirements of the buyers. Similarly, the importers investing discovering items that suit their processes and developing vendors who can supply such products. Leakage of information regarding their products, customers or vendors, price, quantity, frequency of shipments etc. can jeopardise their competitive advantages.

The WIPO guide gives information on what they can do to preserve such trade secrets and what action to takes whenever another party takes undue advantage by accessing sensitive data through unfair means. Exporters and importers should get familiar with their options for taking legal action against such unscrupulous elements.