The need for cooperation between Legal&Tech!

Legal & Tech

Management Summary

 

The new Trade Secrets Act (GeschGehG) shows the urgent need for a trade secrets management system! In the shadow of the GDPR, a new, not inconsiderable administrative burden has already been created for companies and entrepreneurs: the Trade Secrets Act, which came into force at the beginning of 2019, will require a trade secrets management system in the future. If the GDPR threatens "only" with a fine in case of non-compliance, failure to comply with the provisions of the Trade Secrets Act can threaten the existence of the company. Action is therefore urgently required.

In times of the digitalized workplace, however, it has become very complicated to adequately protect business-critical information. Advanced digitization ensures that almost anyone can steal or misuse trade secrets.

The IT-AUDIT program developed by Prosper Intelligence specifically for the implementation of the Trade Secrets Act supports legal and business consultants as well as IT service providers to expand their service portfolio for their clients. The use of artificial intelligence allows ILPA to ensure the essential three steps in the implementation of the laws to ensure the consistent protection of trade secrets. ILPA focuses on the identification of risk potentials in the information content of data as well as their general availability. The comprehensive inventory ultimately guarantees the success of the entire initiative. After full transparency has been achieved, actual safeguards can be determined to take into account existing business processes and the business operations of the company. ILPA is fully compliant with the supervision during the implementation to ensure that the desired protective measures are effective. ILPA includes a detailed final report describing the procedure for protecting business secrets. This final report confirms that the company has taken measures to protect its trade secrets within the meaning of EU Directive 2016/943. With his submission, the company concerned may in the future assert claims for infringement of its trade secrets.