Promoting Innovation through Trade Secrets

Abstract

Following the adoption of the Sustainable Development Goals —SDG—, the signatory states began to continuously promote various policies with the aim of achieving the SDGs for the well-being of our present and future society. Among the various SDGs, one of the most important in the long term is the ninth, which relates, among other things, to innovation. This aspect necessarily requires close cooperation with private actors. To innovate, the latter require a series of measures that guarantee the economic viability of their investment to a certain extent. Is our system prepared for such an enormous task? In this context, since 2019 in Spain we have the Trade Secrets Act, which states in its preamble that they are useful tools for the promotion of innovation. Is this really the case? Are they capable of competing with other rights that have traditionally monopolised this title for the promotion of innovation?