Should companies give confidential access to their trade secrets?

https://www.law.kuleuven.be/citip/blog/should-companies-give-confidential-access-to-their-trade-secrets-part-1/For many years strengthening the level of trade secret protections has been a goal of legislators both in the EU and the US. Last year, finally, the long lasting negotiations brought some results. Two important documents have been signed on both sides of the Atlantic. First, on May 11, 2016, President Obama signed the Defend Trade Secrets Act (DTSA). The same month, on May 27, the European Council approved the text of the Directive (EU) 2016/943 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure (Directive). Those two legislative acts were seen as important steps forward to stronger protection and a more ‘harmonized’ understanding of (among other important aspects) what trade secrets are and how trade secret protection can be established. Those changes were considered important for companies involved in international business and frequent exchange of know-how with foreign companies. In particular, it is indicated in the Directive that open innovation is ‘an important lever for the creation of new knowledge, and underpins the emergence of new and innovative business models based on the use of co-created knowledge’ and that ‘collaborative research, including cross-border cooperation, is particularly important in increasing the levels of business research and development within the internal market.’ The relevant question that arises is, whether companies, following these new legislative improvements, will feel more secure to provide access to their trade secrets to third parties.status: publishe