Trade secret

Secret" information: information not generally known; has commercial value; person in control of the information has taken steps to keep it secret. Such a system is created where holders of secret information are not forced to part with to government or other bodies. Where secret information (best reports of chemicals and pharmaceuticals) is given to government, data to be kept secret. A trade secret is information that provides a business with a competitive advantage.

History

WTO TRIPS agreement article 39.3 obliges WTO members to provide a period of data exclusively for safety and efficacy studies submitted by research based pharmaceutical and plant science for clearance. Priority information submitted to regulatory body shall be protected from unfair commercial usage. All WTO member countries have obliged to implement provisions since 1st January 2000.

Catagories recognised as Trade secrets