On 15 December 2015, the European Commission, the Council and the European Parliament reached a full compromise on the text of a Directive on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure («Trade Secrets Directive»). Hence, it is expected that the final legislative step consisting of the official adoption of the Trade Secrets Directive by the European Parliament and the Council will now follow swiftly. As from the date of adoption, the Member States will have a term of 24 months to transpose the Trade Secrets Directive into their national law. The transposition of the Trade Secrets Directive into Luxembourg law will mean a significant improvement in the legal position of innovative companies doing business in Luxembourg.
Source: Agefi - 17 April 2016