Amendments of trade secrets legislation

On 01.04.2019 Greek Law 4605/2019 came into force and transposed in domestic law the provisions of Directive (EU) 2016/943 of the European Parliament and of the Council of 8 June 2016 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure. Directive (EU) 2016/943 is an attempt to consolidate into one central legal document the scattered rules in force in European countries on trade secrets. Law 4605/2019 amended the existing Law 1733/1987 on technology transfer, inventions, technological innovation and the establishment of an atomic energy committee.

Trade secrets characteristics

According to the newly introduced legal provisions, proprietary information can be characterised as trade secret if the following conditions are cumulatively met: such information is confidential, with commercial value arising from its confidentiality and the person who has lawfully obtained control of that information has made reasonable efforts to protect its confidentiality.

Protection of trade secrets

The law stipulates specific conditions under which the acquisition of commercial trade secrets is lawful and can be protected from third parties’ unlawful acquisition, use and disclosure. The trade secret holder may request judicial protection including provisional measures for the cessation or prohibition of use or disclosure of trade secrets and damages.

The attorneys of our law firm can assist you in all kinds of issues regarding trade secrets and their protection.

If you have any queries with regard to trade secrets` law, please feel free to contact us.