Trade secrets

Industrial espionage and theft of trade secrets caused €60 billion loss of economic growth, innovation and put 289,000 jobs at risk in 2018. (Source: European Commission)

Trade secrets are a valuable piece of information for a company that is treated as confidential and gives to that company a competitive advantage, e.g. formulation of a substance, marketing study, list of clients, inventions prior to patenting.

BusinessEurope supports the actions of the European Commission to ensure completeness and conformity of the transposition of the Trade Secrets Directive by member states. However, cybertheft has become a serious problem for businesses and further action is definitely needed in this field.

Last updated: 15 September 2023