Trade Secrets
Legal Basis
– Law No. 19.039, in force as of September 30, 1991, last amended by Law No. 21.355, in force as of May 9, 2022.
Note: the new IP Law 21.355 changes the term "industrial secret" to "trade secret".
Membership in International Conventions
– Paris Convention for the Protection of Industrial Property, Stockholm Act of 1967.
– WTO's TRIPS Agreement.
Protection
Definition: according to Law 19.039 a trade secret shall be understood to be any undisclosed information that a person possesses under his control and that may be used in any productive, industrial or commercial activity, provided that such information complies with the following copulative requirements: (1) that the information is secret in the sense of not being, as a whole or in the precise configuration and assemblage of its components, generally known or readily accessible to persons within the circles in which such information is normally used; (2) it has a commercial value because it is secret; (3) has been subject of reasonable measures taken by its legitimate holder to keep it secret.
Assignment - licensing: possible by private contract.
Remedies for misappropriation: civil and/or criminal measures.