The European Council adopted the Trade secrets Directive

tradesecretsThe EU Council adopted a directive setting out rules for the protection of trade secrets and confidential information of EU companies.

The decision follows an agreement reached with the European Parliament on 15 December 2015.

The Council addressed some of the fears related to this Directive such as possible limitation of the freedom of speech, mobility of employees and others as groundless taking into account the specific provisions laid down in the Directive which prevent such negative outcomes.

Persons acting in good faith that reveal trade secrets for the purpose of protecting the general public interest, commonly known as “whistle-blowers”, will enjoy adequate protection. It will be up to national competent judicial authorities to judge whether the disclosure of a commercial secret was necessary to denounce a misconduct, wrongdoing or illegal activity.

After publication of the directive in the Official Journal of the EU and its entry into force, member states will have a maximum of two years to incorporate the new provisions into domestic law.

More information here.