A draft of Law on the Protection of Trade Secrets was published for discussion in September 2018. With the adoption of the new act, Bulgaria will later transpose Directive (EU) 2016/943 of 8 June 2016.
Unauthorized know-how and trade secrets have no legal framework and legal protection. The Law on Protection of Competition also does not provide the necessary protection for the holders of trade secrets despite the regulation.
The draft of the new act shows that it aims to regulate the terms and conditions for the protection of trade secrets from unauthorized use and disclosure as well as adopts a new definition of a trade secret. The Law on the Protection of Trade Secrets will allow holders of trade secrets to be able to request the court to impose measures to protect against the unauthorized use and disclosure of trade secrets and to award damages. The full text can be found on the website of the Ministry of Economy.
The adoption of such a new act is a step in the development of intellectual property and will provide businesses in Bulgaria with trade secret protection, where entrepreneurs have been vulnerable until now.