- Business secrets should be clearly defined and protecting them from being leaked requires a written confidentiality obligation, said Triinu Hiob, Senior Associate at LAWIN Attorneys At Law, as she discussed this wide and complex area as well as unfair competition practices at SCCE’s and the German-Baltic Chamber’s joint Business Seminar, Thursday, April 11th.
- What could be considered as business secrets from an Estonian legal point of view is listed in § 63 of the Competition Act (konkurentsiseadus) and includes: Technical and financial know-how; Methods of calculation of costs; Production secrets and processes; Sources of supply; Volumes of sales and market shares; Clients, distributors; Marketing plans; Price structures and sales strategies, continued Triinu.
- Preventing business secrets from being leaked by employees requires a written and duly signed confidentiality obligation, specifying the business secrets, what is prohibited in this respect, as well as remedies at hand. It should be mentioned that a confidentiality obligation also should be drawn up with the company’s board members.
- Unfair competition practices, generally described as dishonest business practices, and acts that contradict good morals and practices, are prohibited. More specifically, unfair competition practices include: Disparagement of a competitor or the goods of the competitor; Misuse of confidential information; and Misuse of an employee or representative of a competitor.
The subject for this Business Seminar is indeed complex and wide, and Triinu got a lot of questions throughout her insightful presentation of the legislation and factual court cases. Triinu’s presentation is available online at www.swedishchamber.ee.
On behalf of the SCCE Council I would like to thank Triinu Hiob for a very interesting presentation and an inspiring discussion. My thanks also go to the German-Baltic Chamber of Commerce for a close and very good cooperation in arranging our joint Business Seminar.
Sincerely,
Kristiina Sikk
SCCE Ombudsman