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The new Business Secrets Act: a step forward in the protection of company assets

| News | Litigation

José Martínez Enguínados analyzes Law 1/2019 passed by the Cortes Generales on February 20, 2019 on Business Secrets

Last February 20th, 2019, the Spanish Parliament finally passed the Law 1/2019 on Trade Secrets, which implements EU Directive 2016/943 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure. Aligned with the Directive and TRIPs Agreement, spanish national regulation sets out an accurate definition of “Trade Secret”, focusing in the previous measures the holder of the secret should have taken in order to protect it. The Spanish Regulation, however, goes one step beyond what the EU Directive had set out, and provides a wider protection of the Trade Secrets by, for instance, regulating the transfer, co-ownership and licensing of the Trade Secrets as intangible asset. Further, the spanish regulation provides a wide range of legal remedies in the protection of the holder’s rights, including precautionary measures.

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