Open Secrets Of Trade In India (An Analytical Study Of Trade Secrets Laws In The Uncodified Legislative Regime In India)
Chirantan Priyadarshan, Amity Law School, Noida, Uttar Pradesh
ABSTRACT
The term ‘Trade Secrets1’ Is defined as any information that is not generally known or readily accessible by the public and is capable of conferring economic advantage to its owner. These secrets can be formulae, designs, pattern or any other information that is vital for the success of a business. Trade secrets are a critical component of intellectual property that drives innovation and growth but find themselves in a difficult situation when traversing through the limited legal provisions to seek Relief/Remedy. As compared the US and Chinese Jurisdictions where a codified laws of trade secrets exists with dedicated authorities and mechanisms for adjudication, In India albeit limited, trade secrets are protected through various legal frameworks, including the Indian contract act, 1872, the Indian Penal Code 1860 and the information technology Act 2000. With rapidly evolving business landscapes and increasing global competition, there is a need for more robust than effective legislation and mechanisms in place to protect the Indian trade secrets.
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