Many companies have confidential information that they would rather not share with everyone, especially in competitively sensitive situations. More and more often, an NDA is being concluded in order to be able to negotiate in a safe way, and that is a good thing. It is important for professional parties to protect their confidential information with clear agreements.
Trade secrets can be legally protected on the basis of the Trade Secrets Act (in Dutch: ‘Wbb‘), but the confidentiality of that information needs to be insured properly. Examples of trade secrets are specific know-how or recipes. Trade secrets do not have the same absolute status as many other intellectual property rights, but various legal measures are possible, such as a prohibitive injunction subject to an incremental penalty payment. It is important that the information is protected by proper confidentiality clauses and non-disclosure agreements.
In order to qualify as a ‘trade secret’ within the meaning of the Trade Secrets Act, it is required that sufficient measures have been taken to protect the confidential information. BVDV’s lawyers can advise you on how your company can put this down in writing and how your company can protect trade secrets if they are infringed.