In the US, the Defend Trade Secrets Act of 2016 packs a powerful punch. Some view it as setting the standard for others to try to achieve.
A set of major industry lobbying groups are now urging US Trade Representatives to push for similarly strong trade secret laws in countries wishing to do business with the US.
In a letter from these groups to Robert E. Lighthizer, U.S. Trade Representative they basically request that US Trade Representatives take the following four general actions to promote global trade secret protections:
- Make trade secret protection a priority in trade negotiations;
- Work with the private sector in determining needs and best practices;
- Support trade secrets at the World Trade Organisation;
- Take a leadership role in promoting strong trade secrets protection.
I see this as a most interesting development given that a) various trade agreements are being debated at present and b) new trade secret laws are currently being created across all EU member states.
Donal O’Connell, IPEG Consultant