New Law on the Protection of Trade Secrets
–The new Act on protection of trade secrets will undoubtedly have significant practical importance for tech-based businesses, says Thomas Rieber-Mohn, Kluge-partner.
Effective from January this year, the new Act on protection of trade secrets is in force.
The Act implements EU Directive 2016/943 on protection of confidential knowhow and trade secrets and was to a certain degree debated in relation to its adoption early 2020. By entering into force, the Act has now become a practical reality for Norwegian businesses.
The law applies to information that has a commercial value to the holder. This may, for example, be the case with:
- technical information, such as knowledge of working methods, a specific material choice or an alloy, a technical detail that makes a product more efficient or user-friendly, or
- commercial information, such as customer data, marketing plans, pricing strategies or other types of commercial information.
– Four months in, and we have already relied on the Act in several court cases, says Thomas Rieber-Mohn, Kluge-partner.
– However, it is paramount that businesses take certain protective measures in order for its secrets to be safeguarded under the Act’s statutory protection. Therefore, we wish to share some basic knowledge about this with our fellow cluster members of GCE Ocean Technology, Rieber-Mohn explains.
Read Kluge’s detailed information about the main points in the new law (in Norwegian) or contact Kluge to learn more.
Contact Information
Kjersti Boge Christensen
Communication Manager
Kluge is a Norwegian full-service independent business law firm with offices in Oslo, Stavanger, Bergen and Hamar.
Kluge offers comprehensive advice and assistance within all major fields of business law. They have chosen to focus on four core market sectors: energy/oil and gas, real estate/construction, public sector, and industry/finance.
