Lexis®Library update: The report finds that reliance on trade secrets within the UK is very strong, with 70% of firms using trade secrets as a method of protection for innovations. However, the report also finds that this can restrict labour mobility and knowledge flows, which in turn reduces future innovation. It concludes, therefore, that the notion of trade secrets is in need of further development, possibly by way of including some sort of evidence base for trade secrets, to ensure that companies are protected, but that future invention is not stifled.
The full report is available here.
Source: Economic and innovation impacts of trade secrets
This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 20 April 2021 and is published with permission. Further information can be found at: www.lexisnexis.co.uk.
