Kumari Ashwarya, LL.M. (Master of Laws), University Institute of Legal Studies, Chandigarh University, Mohali (Punjab).
Dr. Nisha Sain, Assistant Professor, University Institute of Legal Studies, Chandigarh University, Mohali (Punjab).
ABSTRACT
Legal protection of trade secrets is a major concern for sustaining the competitive advantage of markets and for encouraging development and economic soundness. India has no specific statute protecting trade secrets, and thus competition law is the major alternative legal weapon to address misuse/misappropriation related to trade secrets. The main aim of this paper is to review the effectiveness of competition law in preventing unfair competition and market manipulation resulting from trade secret misuse, a view that has been aided by the “Competition Act of 2002." The study involves such areas as judicial activity, leading cases, and the development of legal norms concerning trade secrets protection. Key learnings from other nations such as the USA and the EU further support the view that there is a dire need for a neater approach in India given the fact that the legal risks remain relatively open due to the absence of extensive legislative provisions. The paper also discusses practical issues concerning the application of competition law to trade secrets, such as establishing the harm and cross- border issues. In this way, this paper seeks to add to discuss the best practices of using trade secret protection through the competition law to improve and make recommendations on future legal developments to encourage a fair and competitive business environment.
Keywords: Trade secrets, competition law, unfair competition, market manipulation, Competition Act, 2002, intellectual property
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