PROTECTION AND MANAGEMENT OF TRADE SECRETS IN MYANMAR

ABSTRACT:

A trade secret is a form of intellectual property that obtains its economic value from remaining undisclosed. The protection of trade secrets plays a crucial role in fostering empowerment, innovation, and creativity within various industries. Nonetheless, if such legal protection is not carefully balanced against competing interests such as the freedom of employee movement and the ability to build upon existing knowledge, it may hinder these fundamental rights. Therefore, it is essential to assess trade secret protection in light of broader social and economic considerations. Furthermore, effective intellectual property (IP) management requires recognizing and utilizing the overlap between different IP categories, particularly between patents and trade secrets, to maximise the benefits of innovation. Myanmar enacted the Competition Law in 2015, which includes provisions related to the protection of trade secrets and prescribes penalties for violations. However, many businesses and employees may lack awareness of the significance of trade secrets and their corresponding legal responsibilities. This research concludes by presenting practical recommendations for businesses to enhance internal strategies for managing trade secrets. These findings are intended to support Myanmar’s broader objective of attracting foreign investment and fostering long-term economic development through the establishment of a more robust intellectual property protection framework.

Keywords: Intellectual Property Management, Legal Protection, Trade Secret.