sk-design-shutterstock-com
16 December 2015Patents

EU trade secrets reforms take one step forward

Reforms to European trade secrets law took a step forward yesterday after the European Council and representatives from the Parliament came to a provisional agreement on the legislative package.

New measures harmonising trade secrets laws across the EU will include a Europe-wide definition of what constitutes a trade secret and penalties for the unlawful disclosure of confidential information.

Some commentators have been critical of the measures, which they had complained would limit the work of journalists and whistle-blowers in exposing corporate wrongdoing.

Julia Reda, a member of the European parliament (MEP) for the Pirate Party, described the reforms as adopting an “excessively broad definition of trade secrets” which will “open the door to all kinds of abuse”.

A petition opposing the reforms has attracted almost 500,000 signatures.

But the council said there will be no new limitations on investigative journalists and whistle-blowers sharing information in the “general public interest” will also be protected.

In September, Constance Le Grip, the MEP for the European People’s Party and tasked with the job of drafting the reforms, told WIPR that the legislation was intended “to create an efficient tool to protect businesses and companies”.

Etienne Schneider, deputy prime minister and minister for economic affairs in Luxembourg, said: “Nowadays there is great diversity of systems and definitions in member states as regards the treatment and the protection of trade secrets.

“This new instrument will bring legal clarity and a level playing field to all European com panies. It will also help increase their interest in the development of research and innovation activities,” he added.

Before becoming law the agreement needs to be approved by the committee of permanent representatives of the council before heading to a full vote at the parliament in the New Year.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Patents
28 January 2016   Legislation that will increase harmonisation of trade secrets laws across the EU took a leap forward today after the European Parliament’s Legal Affairs Committee approved the latest draft report.