To what extent do trade secrets & IP play a part in your brand value and corporate strategy?
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Which of the following statements best describes your corporate view on trade secrets and IP protection?
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Where would you rank the importance of trade secrets relative to other IP for your company?
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Do you foresee trade secret protection as increasing in importance relative to other IP due to the advance of technological innovation/digitalisation?
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Do you agree or disagree with the following statement: IP and, in particular, patent rights have swung so far towards protection that they holdback and risk undermining innovation?
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To what extent do you understand the implications of the US’ Defend Trade Secrets Act for your company?
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To what extent do you understand the implications of the EU’s Trade Secrets Directive for your company?
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Should UK companies (including subsidiaries of foreign companies) be governed by the EU’s Trade Secrets Directive after the UK leaves the EU?
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As far as you are aware, has your company had valuable information/trade secrets stolen?
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In terms of where trade secrets theft originates from, which of the following are you most fearful of?
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To what extent are technology transfer requirements, compulsory licensing, import restrictions and other barriers to market access a concern for your company with respect to trade secrets?
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To what extent are Government inspection, monitoring and reporting requirements a concern for your company with respect to trade secrets?
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In your opinion, does trade secret protection and enforcement need to be strengthened in your country?
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In your opinion, which three of your company’s main export markets or countries need to strengthen their trade secret protection and enforcement the most?
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If your company is concerned about trade secret protection, does your company identify and maintain an inventory of its trade secrets and / or does the company have an action plan for how to respond to actual or threatened misappropriation?
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If trade secrets are a concern, is this reflected in your HR practise (i.e. drafting of employment contracts (restrictive covenants), monitoring computer downloads, exit interviews etc.)?
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INTERVIEWS
In addition to the quantitative analysis, we conducted eight in-depth interviews with experts in the trade secrets and IP field, including two senior company executives, who because of the sensitivity of the subject, did not want to have their names and company disclosed.
In conducting the research for this report, Euromoney Institutional Investor Thought Leadership surveyed a total of 404 senior executives from multinational companies across five industries. Most of the respondents (172) were C-suite executives (chairmen, CEOs, CFOs, CIOs and board members), followed by (138) senior legal and compliance executives (General Counsel, Head of Compliance, Head of IP) and other senior executives (94).
The respondents mostly came from the following five industry sectors: consumer goods and retail; information, communications and technology; chemical, healthcare and pharmaceuticals; financial services; and industrials. Geographically, most respondents (164) are based in Europe, the Middle East and Africa, followed by the Americas (124) (primarily North America), and Asia Pacific (116).
ABOUT THE RESEARCH
For the purposes of this report, we use the definition of a “trade secret” in the 2016 US Defend Trade Secrets Act. Under the DTSA, trade secrets are defined as, “all forms and types of financial, business, scientific, technical, economic, or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, programs, or codes, whether tangible or intangible, and whether or how stored, compiled, or memorialized physically, electronically, graphically, photographically, or in writing if (A) the owner thereof has taken reasonable measures to keep such information secret; and (B) the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, another person who can obtain economic value from the disclosure or use of the information.
DEFINING OUR TERMS
JOHN ROBERTSON
KEVIN O’BRIEN
DAVID LASHWAY
Supervisory Special Agent Intellectual Property Rights Liaison Federal Bureau of Investigation
Chair, North American Intellectual Property Practice Group Baker McKenzie
Co-Chair Global Cybersecurity Practice Baker McKenzie
JORGE NOVAIS GONÇALVES
CHRISTOPH DAHL
MARK ELLIOT
Legal and Policy Officer Internal Market, Industry, Entrepreneurship and SMEs European Commission
Compliance Counsel SCHOTT AG
Executive Vice President Global Intellectual Property Center US Chamber of Commerce
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TRADE SECRET THEFT: A TRILLION DOLLAR PROBLEM?
COUNTING THE COST OF THEFT
RISING TRADE SECRET PROTECTIONS IN THE US, EU AND ASIA
WHAT COMPANIES NEED TO DO
CASE STUDY: SCHOTT AG
SUMMARY
KEY FINDINGS
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APPENDIX
ARE YOU PROTECTED?
CONTACTS
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SUMMARY
KEY FINDINGS
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APPENDIX
ARE YOU PROTECTED?
CONTACTS
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