Trade Secrets Law in Cyprus
Trade Secrets Law in Cyprus
🇨🇾 Legal Framework
Cyprus protects trade secrets under the Protection of Trade Secrets Law, Law No. 89(I)/2018, which was enacted to implement the EU Trade Secrets Directive (Directive (EU) 2016/943). The law came into force in 2018, aligning Cyprus’s legislation with EU standards for trade secret protection.
🔐 Definition of Trade Secrets
According to the Cypriot law, a trade secret is defined as information that:
Is secret, meaning it is not generally known or readily accessible to persons within circles that usually deal with such information;
Has commercial value because it is secret;
Has been subject to reasonable steps by the holder to keep it confidential.
🛡️ Protection Scope
The law protects trade secrets from unlawful acquisition, use, and disclosure, including when the information is:
Obtained through theft, bribery, fraud, espionage, or breach of confidentiality agreements;
Disclosed or used in violation of confidentiality obligations.
⚖️ Remedies and Enforcement
The Protection of Trade Secrets Law provides for the following remedies against trade secret misappropriation:
Injunctions to prevent or stop the unauthorized use or disclosure;
Damages to compensate for losses caused;
Corrective measures, including seizure or destruction of infringing goods or documents;
Confidentiality measures to protect trade secrets during legal proceedings;
Recovery of profits made from improper use of the trade secret.
📜 Additional Legal Provisions
Trade secrets may also be protected under contract law (e.g., confidentiality agreements and non-disclosure agreements).
Criminal sanctions may apply for serious breaches, such as industrial espionage.
🌍 International Compliance
Cyprus, as a member of the European Union, complies with the EU Trade Secrets Directive, ensuring harmonized trade secret protection across the EU member states. It also adheres to the TRIPS Agreement under the WTO framework.
Summary Table
| Aspect | Details |
|---|---|
| Legal Basis | Protection of Trade Secrets Law, Law No. 89(I)/2018 |
| Definition | Secret, commercially valuable information subject to reasonable protection |
| Protection Scope | Against unlawful acquisition, use, or disclosure |
| Remedies | Injunctions, damages, corrective measures, confidentiality during court, recovery of profits |
| Additional Laws | Contract law, criminal sanctions |
| International Framework | EU Trade Secrets Directive and TRIPS compliance |
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