What is the law on trade secrets in India?

Trade secrets in India are regulated by the Indian Contract Act, 1872 and the Indian Penal Code, 1860. In India, trade secrets are defined as any information that is not generally known or easily accessible but is of economic value to the owner. Trade secrets may include confidential information such as formulas, processes, designs, or other knowledge used in the production of goods or services. In order to protect trade secrets, owners must take steps to ensure that the information is kept confidential. This may include distribution of the secret only to those employees who have an absolute necessity to know it, non-disclosure and non-compete agreements, physical security measures, and other measures to prevent unauthorized disclosure or use. Violation of trade secret laws can lead to civil and criminal penalties, including the imposition of compensatory and punitive damages and imprisonment. The Indian courts have consistently held that the trade secret’s owner is entitled to damages or an account of profits for any unauthorized use of the trade secret by a third party. Therefore, it is essential for individuals and organizations in India to take appropriate steps to protect trade secrets and ensure that they are not misused. Trade secrets are also protected by intellectual property laws and it is important to understand that these laws have the same objective of protecting confidential information in order to protect the legitimate economic interests of their owners.

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What is the law on trade secrets in India?

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