Are your secrets safe?

Are your secrets safe?

If you do not know that, you should make and keep them (e.g. know-how and business information) as a trade secret pursuant to the upcoming Trade Secrets Act.

Trade Secrets Act brings some changes to the current definition of what constitutes a trade secret. Therefore, it will be essential for companies to adopt appropriate internal acts or to revisit the existing internal acts in order to ensure that all important trade secrets will be adequately protected.

If you have already ensured adequate protection of such trade secrets, you should check what you can do pursuant to the upcoming Trade Secrets Act and under what therein provided conditions in case of information leakage.

Upcoming act makes a clearer distinction between the lawful and unlawful acquisition, use and disclosure of trade secrets and regulates the judicial protection in the event of violations and the conditions and circumstances for issuing the interim measures for immediate protection of business secret.

On 10 January 2019, the Trade Secrets Act was sent for consideration to the Slovenian Parliament and will have to be adopted shortly. That is required by EU Directive no. 2016/943 on the protection of undisclosed know-how and business information (i.e. trade secrets) against their unlawful acquisition, use and disclosure. It is therefore important for companies to respond quickly and prepare for the upcoming changes.