For many companies, information such as patents, prototypes, construction plans, recipes, manufacturing processes, business strategies, balance sheets, market analyses, customer data or cooperation models, etc., is more relevant to success than, for example, physical assets such as machines or real estate. It is therefore worthwhile to place trade secrets under legal protection, which the Trade Secrets Act does not achieve without further measures.
Since the enactment of the Trade Secrets Act in 2019, significantly higher requirements are placed on trade secrets in order for them to be subject to the protection of the law. To obtain legal protection and prevent disclosure and exploitation by third parties, predefined requirements must be met in advance.
