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24 April 2016

WIPR survey: Readers agree that trade secrets directive will be effective

WIPR readers have said the European Parliament’s vote in favour of new laws designed to protect trade secrets will have the desired effect, according to our latest survey.

On April 15, WIPR reported that the European Parliament had voted in favour of the trade secrets directive, which aims to increase harmonisation of trade secrets laws.

The directive was passed by 503 to 131 votes on Thursday, April 14. There were 18 abstentions.

Under the directive, a trade secret is defined as providing commercial value to a company because it is secret. The legislation outlines an EU-wide definition. Provisions on ensuring trade secrets are kept confidential during legal proceedings are also covered.

The directive also obliges EU member states to ensure that victims of trade secret misuse are able to defend their rights in court and seek compensation.

After we asked readers about the new directive and whether it would be effective, 66% said that it would.

However, despite the generally positive overview, one reader said: “The laws will not respond fast enough to make any difference in a trade secret violation. The issue isn't making someone pay for stealing a trade secret, but keeping it from being passed on to others.”

The European Commission will now have to vote on the directive before it becomes law.

For this week’s survey, we ask: “Last week, we reported that a counsel for Xerox said she is confident the company’s trademark will not become a generic term. Do you think Xerox should be a generic term?”

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15 April 2016   The European Parliament has voted in favour of the trade secrets directive, which increases harmonisation of trade secrets laws.