Trade Secrets Law in Greece
In Greece, trade secrets are protected under Law 4605/2019, which transposed the EU Directive 2016/943 on the protection of undisclosed know-how and business information against their unlawful acquisition, use, and disclosure. This legislation introduced a harmonized definition of trade secrets and established comprehensive legal protections for businesses operating within Greece.(Irish Statute Book, Trade Secrets Trends)
🧠 Definition of Trade Secrets
Under Greek law, information qualifies as a trade secret if it meets the following criteria:
Secrecy: The information is not generally known or readily accessible to individuals within circles that normally deal with such information.(zeya.com)
Commercial Value: It has commercial value because it is secret.
Reasonable Protection Measures: The person lawfully in control of the information has taken reasonable steps to keep it secret.(zeya.com)
This definition encompasses a broad range of confidential business information, including formulas, practices, processes, designs, instruments, or compilations of information. (Norton Rose Fulbright)
⚖️ Legal Protections and Enforcement
Greek law provides several mechanisms to protect trade secrets:
Civil Remedies: Trade secret holders can seek injunctions to prevent further unauthorized use or disclosure, and claim damages for losses incurred due to misappropriation. Courts may also order the recall or destruction of infringing goods. (Trade Secrets Trends)
Confidentiality in Legal Proceedings: To safeguard the secrecy of trade secrets during litigation, courts can restrict access to documents and hearings, limiting them to a specified number of individuals. Non-confidential versions of judicial decisions may be provided, with sensitive information redacted. (logaraslaw.com)
Criminal Liability: While the primary focus is on civil remedies, certain acts of trade secret misappropriation may also fall under criminal law provisions, depending on the nature and intent of the infringement.
🛡️ Best Practices for Protection
To effectively safeguard trade secrets in Greece, businesses should:
Implement Non-Disclosure Agreements (NDAs): Ensure that employees, contractors, and business partners sign NDAs to legally bind them to confidentiality obligations.
Restrict Access: Limit access to sensitive information to authorized personnel only, using measures such as password protection and encryption.
Conduct Regular Training: Educate employees about the importance of trade secret protection and the company's policies regarding confidential information.
Monitor and Audit: Regularly audit systems and processes to detect potential leaks or unauthorized access to trade secrets.
Establish Internal Policies: Develop clear policies and procedures for handling confidential information, including protocols for storage, transmission, and disposal.
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