What is the law on trade secrets in India?

In India, the law governing trade secrets is found in the Indian Contract Act, 1872. The Act provides that any information which is not generally known to the public and is kept as a trade secret and has commercial value must be kept confidential. Such information is considered a trade secret and cannot be divulged or misused by any third party. The Indian Contract Act further states that a contract must be in place between the parties involved in order to protect the trade secret and make sure the secret remains confidential. The contract should include information on how the trade secret is to be used, for how long, and who is authorized to use it. The penalty for misusing or disclosing a trade secret without permission could include fines, imprisonment, and even the payment of damages to the person whose trade secret was misused or disclosed. It is important to note that trade secret protection in India is not automatic and the trade secrets must be registered with the Department of Industrial Policy and Promotion (DIPP). The registering of a trade secret requires the payment of a fee and must include details of the secret, the person/company who owns the secret, and the date when it was created. Failure to register a trade secret under the Indian Contract Act may result in the secret losing legal protection.

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What is the law on trade secrets in India?

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