Trade secret protection in Latvia
In Latvia on April 1, 2019 entered into force Commercial secret protection Law.
The new Law was drafted in order to implement in national laws Directive 2016/943 of the European Parliament and of the Council of 8 June 2016 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure.
Until April 1, 2019 in Latvia only Commercial law established what is considered as Commercial secret. With the new Law the regulation of Commercial Law is taken over and specified.
The Commercial secret protection Law establishes that Commercial secret is confidential economic character information, technological knowledge and scientific or other information what meets all of the following characteristics:
1) It is secret as it is not generally known or accessible to persons who normally use such type of information;
2) It has an actual or potential commercial value because it is secret;
3) The holder of the trade secret in relation to it has performed respective and reasonable activities to preserve the confidentiality of trade secrets in particular situation.
Therefore the object of trade secret can be such technical information as sketches, design, prototypes, manufacturing procedures, inventions, clients and suppliers’ lists, business strategy, finance information and others. Information what can be acknowledged as trade secret must be related to performance of the commercial activity.
Any legal or natural person may own Trade secret.
As Commercial secret protection Law was adopted, also Civil procedure Law is supplemented with new chapter what establishes order regarding cases of protection of trade secrets against unlawful acquisition, use and disclosure.
To find out more about Trade secret protection in Latvia, please contact our lawyers at firstname.lastname@example.org.