Bill on trade secrets
The Spanish Ministry of Justice has prepared a Bill on Trade Secrets for the transposition in Spain of Directive (EU) 2016/943 on the protection of undisclosed know-how and business information (trade secrets), in order to incorporate it into the Spanish legal system.
The Bill foresees the definition of the trade secrets that will be protected, as any kind of information, related to any area of the business, including technological, industrial, commercial, organizational or financial, that met the following conditions:
a) it is secret
b) it has a commercial value because it is secret
c) it has been subject to reasonable steps to keep it secret
The Bill establishes the activities that will be considered as a violation of these trade secrets, the actions that could be brought against this violation and the consequences of such violation, including damages that could be claimed.
The term given to the Spanish Government to this transposition expires on 9 June 2018.
