New Trade Secrets Act enters into force
On 10 August 2018, the President of the Republic approved a new Trade Secrets Act implementing the EU Directive on the protection of trade secrets. The new Act harmonises the concepts and terminology related to trade secrets so that the concept 'trade secret' is consistently used in the national legislation from now on. The Act will enter into force on 15 August 2018.
The Act lays down provisions on the protection of trade secrets and the related civil law remedies available.
The Act contains a definition of a trade secret and lays down provisions on the unlawful acquisition, use and disclosure of trade secrets. The Act also defines the means for lawful acquisition of trade secrets and lays down provisions on the preconditions for reporting misconduct and illegal activity and for the exercise of the right to freedom of expression regardless of the protection of trade secrets.
Under the new Act, trade secret holders will have access to more precisely defined and more extensive remedies in infringement cases than currently. A court may impose injunctions and corrective measures on the infringer or order him or her to pay remuneration for use. A court may also order the infringer to pay compensation and damages to the trade secret holder.
District courts and the Market Court will have parallel jurisdiction in disputes concerning infringements of trade secrets in certain cases.
Inquiries:
Pasi Järvinen, Director of Legislation, Ministry of Economic Affairs and Employment, tel. + 358 29 504 8067