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THE TRADE SECRET ACT
Transcript of THE TRADE SECRET ACT
(a) Granting appropriate relief in connection to with discovery proceedings;
(b) to prevent the opposite party from using the information so discovered during the proceedings for its benefit;
(c) to prevent the persons involved in litigation or any other persons so involved from disclosing any information with regard to the same without obtaining prior permission of the court.
(d) holding in camera proceedings and if need be to seal records of the action taken;
Section 3: What constitutes a Trade Secret
a. Criminal Procedures: The Act criminalizes theft of a trade secret. In addition to the civil remedies set forth above, a violator may be charged under Chapter XVII of the Indian Penal Code, 1860.
Surrender Against Compensation:
(1). The Court may order that the surrender of the documents or objects containing the secret, against the payment of compensation.
(2).OR destroyed or altered
(3).Such actions shall be brough by
Section 10 - Period Of Limitation.
ACT: acquisition, disclosure or use of the trade secret of another person by improper means,
KNOWLEDGE: ACTUAL OR CONSTRUCTIVE
disclosure or use of a trade secret of another, by a person who;
(a) derived it from or through a person who had utilized improper means to acquire it; or ;
(b) acquired it under the circumstances giving rise to a duty to maintain its secrecy or limit its use; or
(c) derived it from or through a person who owed a duty to the person seeking relief to maintain its secrecy or limit its use; or
(d) before a material change of his [or her] position, knew or had reason to know that it was a trade secret and that knowledge of it had been acquired by accident or mistake.
A trade secret is 'information', as defined under section 2(2)
that derives independent economic value, actual or potential from such secrecy and
is subject to reasonable efforts by the owner to maintain such secrecy and
the divulgation of which would be likely to cause damage to the owner.
PROVISO: Relevant Competitors
The term 'owner' with respect to a trade secret, means, the person or entity in whom or in which, rightful legal or equitable title or license in the trade secret is reposed.
SEC. 5: INJUNCTION
against actual or threatened misappropriation.
The injunction can be terminated when the trade secret has ceased to exist, upon application to the court,
but the injunction may be continued for an additional reasonable period of time in order to eliminate commercial advantage that otherwise would be derived from the misappropriation.
Inequitable to prohibit future use of a trade secret-
payment of a reasonable royalty
for no longer than the period of time for which, use could have been prohibited.
in extra-ordinary circumstances,
Extra-ordinary circumstances are inclusive of a material and prejudicial change of position prior to acquiring knowledge or reason to know of misappropriation.
3. In situations as deemed fit, affirmative acts to protect trade secret can also be ordained by court order.
SEC. 6: PENALTIES
1. Penalty for acquisition
2. Penalty for disclosure
3. Penalty for use
3. Penalty for attempt to misappropriate
4. Penalty to conspire:
THE DRAFT LEGISLATION
1. Except to the extent that a material distinction exists in the position prior to and after the misappropriation/obtainment of trade secret, the plaintiff is entitled to damages including:
(a). Actual Loss caused to the plaintiff
(b). Unjust Enrichment obtained by the defendant
(c). Lost profits of the plaintiff
(d). In circumstances where the Court is unable to compute the same, the court may award damages of a sum equal to the total market value of the loss caused to the plaintiff.
Sec. 7: DAMAGES
Section 2. Definitions
2(1). Improper means
2(4). Proper means
Improper means includes theft, bribery, coercion, deception, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy, or espionage through electronic or other means;
Information means and includes, a body in the precise configuration and assembly of its components which could be in the form of a valuable plan, formula process, pattern, programme ,compilation, device, method or technique, that is used for making, preparing, compounding.
Section 4. Misappropriation
Section 9 : Enforcement of Trade Secrets in India
Section 8 :Preservation of secrecy
Sec. 11- Geographical Application
This Act shall apply to all trade secrets that are developed, devolved or conveyed into or out of the territorial limits for commercial purposes.