Abstract

Trade secrets are a form of intellectual property that provide economic value to a business due to their confidential nature. In India, trade secrets are protected by a combination of contract law, tort law and equitable principles rather than a dedicated legal framework. In India Trade secret protection is currently linked with intellectual property regime not only for the existing knowledge protection but also for many other factors like boosting of the invention, innovation, developing and improving original ideas, which not without any effective, adequate or fair protection of the trade secrets, which shall remain incomplete. By keeping the product's recipe a secret and selling it, trade secrets are crucial pieces of intellectual property that contribute to sales and popularity. Only to assist win the commercial market competition was this type of intellectual property established.. The trade secret regime allows for independent discovery and use by third parties. The positive aspect is that trade secrets are created at the time of creation and there is no cost to assert the rights. This paper helps in calculating the various ways to protect trade secrets and under which laws trade secrets should be protected and the importance and need for a uniform codified law. Giving effective protection to the trade secrets contributes significantly to the national economic development by making more trade opportunities conclusively.

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