Trade Secrets

Information to know about Trade Secrets

What is a Trade Secret?

A Trade Secret is any information which:

  • Has been kept secret;
  • Has commercial value; and
  • Retains its commercial value as a result of the efforts to keep the information secret.

The subject matter of trade secrets is usually defined in broad terms and includes sales methods, distribution methods, consumer profiles, advertising strategies, lists of suppliers and clients, and manufacturing processes (World Intellectual Property Organization).


Excerpt taken from The Creative Caribbean video produced by the World Intellectual Property Organization (WIPO) 2006.

Back to top

How are Trade Secrets protected?

Contrary to patents, trade secrets are protected without registration, that is, trade secrets are protected without any procedural formalities. Consequently, a trade secret can be protected for an unlimited period of time (World Intellectual Property Organization).

The unauthorized disclosure of a Trade Secret constitutes an act of unfair competition under the Protection Against Unfair Competition Act, 1996.

Back to top

 

 

igovlogo

 

Copyright © Intellectual Property Office 2016.
All rights reserved.

Criminal penalties for Intellectual Property Rights Infringement

IPR

Maximum Penalty (TT Dollars)

Copyright and Related Rights incl. databases

$250,000.00 or ten years imprisonment (summary conviction)

Topography of Integrated Circuits

$10,000.00 or 5 years imprisonment (summary conviction)

Trade Mark (incl. company names represented in a special or particular manner)

$10,000.00 or 6 months imprisonment (summary conviction); $40,000.00 or 10 years imprisonment (indictment)

Industrial Design

$10,000.00 or ten years imprisonment (summary conviction)

Patent and Utility Model

$10,000.00 (summary conviction).

Falsification of patent register: $20,000.00 (summary conviction) or $40,000.00 or ten years imprisonment (indictment)

Geographical Indications

$8,000.00 or three years imprisonment (summary conviction)

Plant Variety

$10,000.00 (summary conviction)

Unauthorised claim of patent rights

$10,000.00 (summary conviction)

Unauthorised claim that a patent has been applied for

$10,000.00 (summary conviction)


×

The Copyright Infringement Ship

Piracy Ship

Click here to download image.

×

Piracy

Piracy occurs when any of the copyright owner’s exclusive rights are violated.

Note 14 of the TRIPS Agreement on Trade Related Aspects of Intellectual Property Rights (IPRs) provides the following interpretation:

(a) “counterfeit trademark goods” shall mean any goods, including packaging, bearing without authorization a trademark which is identical to the trademark validly registered in respect of such goods, or which cannot be distinguished in its essential aspects from such a trademark, and which thereby infringes the rights of the owner of the trademark in question under the law of the country of importation;

(b) “pirated copyright goods” shall mean any goods which are copies made without the consent of the right holder or person duly authorized by the right holder in the country of production and which are made directly or indirectly from an article where the making of that copy would have constituted an infringement of a copyright or a related right under the law of the country of importation.

The maximum penalty for copyright infringement is $250,000 or ten years imprisonment. The above pirate ship illustrates some common examples of piracy.


×