Regulatory Sponsored by
The International Fragrance Association (IFRA) has applauded the adoption of the EU Commission's proposal on the protection against unlawful acquisition, use and disclosure of confidential business information and know-how.
The recently issued draft directive introduces a common definition of trade secrets, as well as means through which victims of trade secret misappropriation can obtain redress. The directive aims to make it easier for national courts to deal with the misappropriation of confidential business information, to remove the trade secret infringing products from the market and make it easier for victims to receive damages for illegal actions.
According to IFRA, the proposal to harmonize national laws, establishing a common definition and ensuring that cases of misappropriation, use or disclosure will be covered by sufficient and comparable levels of redress across the EU will contribute to an effective internal market.
"The fragrance industry, one of the most creative sectors in Europe has long recognized the significance of its know-how for its long-term development, but in the eyes of the law there remains ambiguity," said Pierre Sivac, IFRA's president.
"The enforcement of the protection of know-how is exceedingly difficult because of inconsistent regimes across EU Member States. This bold proposal from the commission, if successful, will go a long way to ensuring that innovative European industries, such as the fragrance industry, remain competitive," Sivac added.