The UK Trade Secrets Regulations which came into effect earlier this month for the first time provide a statutory definition of a “trade secret.” The definition is narrower than the existing standard and focuses more on whether the information has been kept secret rather than its inherently secret nature. This new requirement puts the onus on businesses to take reasonable steps to secure their trade secrets. Our paper prepared by Carlton Daniel highlights a few steps UK businesses may take to limit their exposure under this new legislation.
